Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 1, 2024 is estimated to be $281 Million, with a cash option of 129.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. The good news is that if you're a resident of Wyoming, you won't owe any state tax on your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Fri Nov 1, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 1, 2024	$281,000,000	$129,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$129,800,000
Federal Tax(24%)	$31,152,000
Additional Federal Tax	$16,834,330
State Tax(0%)	$0
Net Lumpsum Payment	$81,813,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,229,331	-$1,525,183 -$0	$2,704,148
2	$4,440,924	-$1,603,472 -$0	$2,837,452
3	$4,662,914	-$1,685,609 -$0	$2,977,305
4	$4,896,144	-$1,771,904 -$0	$3,124,240
5	$5,140,895	-$1,862,462 -$0	$3,278,433
6	$5,398,010	-$1,957,594 -$0	$3,440,416
7	$5,667,770	-$2,057,405 -$0	$3,610,365
8	$5,951,299	-$2,162,311 -$0	$3,788,988
9	$6,248,878	-$2,272,415 -$0	$3,976,463
10	$6,561,350	-$2,388,030 -$0	$4,173,320
11	$6,889,277	-$2,509,363 -$0	$4,379,914
12	$7,233,783	-$2,636,830 -$0	$4,596,953
13	$7,595,430	-$2,770,639 -$0	$4,824,791
14	$7,975,342	-$2,911,207 -$0	$5,064,135
15	$8,374,081	-$3,058,740 -$0	$5,315,341
16	$8,792,771	-$3,213,656 -$0	$5,579,115
17	$9,232,255	-$3,376,265 -$0	$5,855,990
18	$9,693,938	-$3,547,087 -$0	$6,146,851
19	$10,178,663	-$3,726,436 -$0	$6,452,227
20	$10,687,554	-$3,914,725 -$0	$6,772,829
21	$11,222,016	-$4,112,476 -$0	$7,109,540
22	$11,783,173	-$4,320,104 -$0	$7,463,069
23	$12,372,149	-$4,538,026 -$0	$7,834,123
24	$12,990,911	-$4,766,967 -$0	$8,223,944
25	$13,640,302	-$5,007,242 -$0	$8,633,060
26	$14,322,570	-$5,259,681 -$0	$9,062,889
27	$15,038,558	-$5,524,597 -$0	$9,513,961
28	$15,790,514	-$5,802,821 -$0	$9,987,693
29	$16,580,124	-$6,094,976 -$0	$10,485,148
30	$17,409,074	-$6,401,688 -$0	$11,007,386