Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 15, 2024 is estimated to be $63 Million, with a cash option of 29.5 Million. If you win the Powerball 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 Powerball Jackpot/Cash Option for Mon Apr 15, 2024

Draw Date Jackpot Cash Option
Mon Apr 15, 2024$63,000,000$29,500,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$29,500,000
Federal Tax(24%)$7,080,000
Additional Federal Tax$3,795,330
State Tax(0%)$0
Net Lumpsum Payment$18,624,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $948,213 -$311,169
-$0
$637,044
2 $995,652 -$328,722
-$0
$666,930
3 $1,045,422 -$347,137
-$0
$698,285
4 $1,097,712 -$366,484
-$0
$731,228
5 $1,152,585 -$386,787
-$0
$765,798
6 $1,210,230 -$408,115
-$0
$802,115
7 $1,270,710 -$430,493
-$0
$840,217
8 $1,334,277 -$454,013
-$0
$880,264
9 $1,400,994 -$478,698
-$0
$922,296
10 $1,471,050 -$504,619
-$0
$966,431
11 $1,544,571 -$531,822
-$0
$1,012,749
12 $1,621,809 -$560,400
-$0
$1,061,409
13 $1,702,890 -$590,400
-$0
$1,112,490
14 $1,788,066 -$621,915
-$0
$1,166,151
15 $1,877,463 -$654,992
-$0
$1,222,471
16 $1,971,333 -$689,724
-$0
$1,281,609
17 $2,069,865 -$726,180
-$0
$1,343,685
18 $2,173,374 -$764,479
-$0
$1,408,895
19 $2,282,049 -$804,689
-$0
$1,477,360
20 $2,396,142 -$846,903
-$0
$1,549,239
21 $2,515,968 -$891,239
-$0
$1,624,729
22 $2,641,779 -$937,789
-$0
$1,703,990
23 $2,773,827 -$986,646
-$0
$1,787,181
24 $2,912,553 -$1,037,975
-$0
$1,874,578
25 $3,058,146 -$1,091,844
-$0
$1,966,302
26 $3,211,110 -$1,148,441
-$0
$2,062,669
27 $3,371,634 -$1,207,835
-$0
$2,163,799
28 $3,540,222 -$1,270,213
-$0
$2,270,009
29 $3,717,252 -$1,335,714
-$0
$2,381,538
30 $3,903,102 -$1,404,478
-$0
$2,498,624
Cash Option: $29.5 Million
Next Draw: Mon Apr 15
Powerball
Sat Apr 13, 2024
073340436910

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