Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Sep 26, 2023 is estimated to be $230 Million, with a cash option of 107.8 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Tue Sep 26, 2023

Draw Date	Jackpot	Cash Option
Tue Sep 26, 2023	$230,000,000	$107,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$107,800,000
Federal Tax(24%)	$25,872,000
Additional Federal Tax	$13,974,330
State Tax(0%)	$0
Net Lumpsum Payment	$67,953,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,461,730	-$1,241,170 -$0	$2,220,560
2	$3,634,920	-$1,305,251 -$0	$2,329,669
3	$3,816,620	-$1,372,480 -$0	$2,444,140
4	$4,007,520	-$1,443,113 -$0	$2,564,407
5	$4,207,850	-$1,517,235 -$0	$2,690,615
6	$4,418,300	-$1,595,101 -$0	$2,823,199
7	$4,639,100	-$1,676,797 -$0	$2,962,303
8	$4,871,170	-$1,762,663 -$0	$3,108,507
9	$5,114,740	-$1,852,784 -$0	$3,261,956
10	$5,370,500	-$1,947,415 -$0	$3,423,085
11	$5,638,910	-$2,046,727 -$0	$3,592,183
12	$5,920,890	-$2,151,060 -$0	$3,769,830
13	$6,216,900	-$2,260,583 -$0	$3,956,317
14	$6,527,860	-$2,375,639 -$0	$4,152,221
15	$6,854,230	-$2,496,395 -$0	$4,357,835
16	$7,196,930	-$2,623,194 -$0	$4,573,736
17	$7,556,650	-$2,756,291 -$0	$4,800,359
18	$7,934,540	-$2,896,110 -$0	$5,038,430
19	$8,331,290	-$3,042,908 -$0	$5,288,382
20	$8,747,820	-$3,197,024 -$0	$5,550,796
21	$9,185,280	-$3,358,884 -$0	$5,826,396
22	$9,644,590	-$3,528,829 -$0	$6,115,761
23	$10,126,670	-$3,707,198 -$0	$6,419,472
24	$10,633,130	-$3,894,588 -$0	$6,738,542
25	$11,164,660	-$4,091,255 -$0	$7,073,405
26	$11,723,100	-$4,297,877 -$0	$7,425,223
27	$12,309,140	-$4,514,712 -$0	$7,794,428
28	$12,924,620	-$4,742,440 -$0	$8,182,180
29	$13,570,920	-$4,981,571 -$0	$8,589,349
30	$14,249,420	-$5,232,616 -$0	$9,016,804