Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 17, 2025 is estimated to be $113 Million, with a cash option of 49.2 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 Jan 17, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 17, 2025	$113,000,000	$49,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$49,200,000
Federal Tax(24%)	$11,808,000
Additional Federal Tax	$6,356,330
State Tax(0%)	$0
Net Lumpsum Payment	$31,035,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,700,763	-$589,613 -$0	$1,111,150
2	$1,785,852	-$621,096 -$0	$1,164,756
3	$1,875,122	-$654,126 -$0	$1,220,996
4	$1,968,912	-$688,828 -$0	$1,280,084
5	$2,067,335	-$725,244 -$0	$1,342,091
6	$2,170,730	-$763,500 -$0	$1,407,230
7	$2,279,210	-$803,638 -$0	$1,475,572
8	$2,393,227	-$845,824 -$0	$1,547,403
9	$2,512,894	-$890,101 -$0	$1,622,793
10	$2,638,550	-$936,594 -$0	$1,701,956
11	$2,770,421	-$985,386 -$0	$1,785,035
12	$2,908,959	-$1,036,645 -$0	$1,872,314
13	$3,054,390	-$1,090,455 -$0	$1,963,935
14	$3,207,166	-$1,146,982 -$0	$2,060,184
15	$3,367,513	-$1,206,310 -$0	$2,161,203
16	$3,535,883	-$1,268,607 -$0	$2,267,276
17	$3,712,615	-$1,333,998 -$0	$2,378,617
18	$3,898,274	-$1,402,692 -$0	$2,495,582
19	$4,093,199	-$1,474,814 -$0	$2,618,385
20	$4,297,842	-$1,550,532 -$0	$2,747,310
21	$4,512,768	-$1,630,055 -$0	$2,882,713
22	$4,738,429	-$1,713,549 -$0	$3,024,880
23	$4,975,277	-$1,801,183 -$0	$3,174,094
24	$5,224,103	-$1,893,248 -$0	$3,330,855
25	$5,485,246	-$1,989,871 -$0	$3,495,375
26	$5,759,610	-$2,091,386 -$0	$3,668,224
27	$6,047,534	-$2,197,918 -$0	$3,849,616
28	$6,349,922	-$2,309,802 -$0	$4,040,120
29	$6,667,452	-$2,427,288 -$0	$4,240,164
30	$7,000,802	-$2,550,627 -$0	$4,450,175