Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Dec 23, 2024 is estimated to be $103 Million, with a cash option of 47 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 Dec 23, 2024

Draw Date	Jackpot	Cash Option
Mon Dec 23, 2024	$103,000,000	$47,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$47,000,000
Federal Tax(24%)	$11,280,000
Additional Federal Tax	$6,070,330
State Tax(0%)	$0
Net Lumpsum Payment	$29,649,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,550,253	-$533,924 -$0	$1,016,329
2	$1,627,812	-$562,621 -$0	$1,065,191
3	$1,709,182	-$592,728 -$0	$1,116,454
4	$1,794,672	-$624,359 -$0	$1,170,313
5	$1,884,385	-$657,553 -$0	$1,226,832
6	$1,978,630	-$692,423 -$0	$1,286,207
7	$2,077,510	-$729,009 -$0	$1,348,501
8	$2,181,437	-$767,462 -$0	$1,413,975
9	$2,290,514	-$807,821 -$0	$1,482,693
10	$2,405,050	-$850,199 -$0	$1,554,851
11	$2,525,251	-$894,673 -$0	$1,630,578
12	$2,651,529	-$941,396 -$0	$1,710,133
13	$2,784,090	-$990,444 -$0	$1,793,646
14	$2,923,346	-$1,041,968 -$0	$1,881,378
15	$3,069,503	-$1,096,046 -$0	$1,973,457
16	$3,222,973	-$1,152,830 -$0	$2,070,143
17	$3,384,065	-$1,212,434 -$0	$2,171,631
18	$3,553,294	-$1,275,049 -$0	$2,278,245
19	$3,730,969	-$1,340,789 -$0	$2,390,180
20	$3,917,502	-$1,409,806 -$0	$2,507,696
21	$4,113,408	-$1,482,291 -$0	$2,631,117
22	$4,319,099	-$1,558,397 -$0	$2,760,702
23	$4,534,987	-$1,638,276 -$0	$2,896,711
24	$4,761,793	-$1,722,194 -$0	$3,039,599
25	$4,999,826	-$1,810,266 -$0	$3,189,560
26	$5,249,910	-$1,902,797 -$0	$3,347,113
27	$5,512,354	-$1,999,901 -$0	$3,512,453
28	$5,787,982	-$2,101,884 -$0	$3,686,098
29	$6,077,412	-$2,208,973 -$0	$3,868,439
30	$6,381,262	-$2,321,397 -$0	$4,059,865