Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Sep 14, 2024 is estimated to be $152 Million, with a cash option of 76.7 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 Sat Sep 14, 2024

Draw Date	Jackpot	Cash Option
Sat Sep 14, 2024	$152,000,000	$76,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$76,700,000
Federal Tax(24%)	$18,408,000
Additional Federal Tax	$9,931,330
State Tax(0%)	$0
Net Lumpsum Payment	$48,360,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,287,752	-$806,799 -$0	$1,480,953
2	$2,402,208	-$849,147 -$0	$1,553,061
3	$2,522,288	-$893,577 -$0	$1,628,711
4	$2,648,448	-$940,256 -$0	$1,708,192
5	$2,780,840	-$989,241 -$0	$1,791,599
6	$2,919,920	-$1,040,701 -$0	$1,879,219
7	$3,065,840	-$1,094,691 -$0	$1,971,149
8	$3,219,208	-$1,151,437 -$0	$2,067,771
9	$3,380,176	-$1,210,996 -$0	$2,169,180
10	$3,549,200	-$1,273,534 -$0	$2,275,666
11	$3,726,584	-$1,339,166 -$0	$2,387,418
12	$3,912,936	-$1,408,117 -$0	$2,504,819
13	$4,108,560	-$1,480,498 -$0	$2,628,062
14	$4,314,064	-$1,556,534 -$0	$2,757,530
15	$4,529,752	-$1,636,339 -$0	$2,893,413
16	$4,756,232	-$1,720,136 -$0	$3,036,096
17	$4,993,960	-$1,808,096 -$0	$3,185,864
18	$5,243,696	-$1,900,498 -$0	$3,343,198
19	$5,505,896	-$1,997,512 -$0	$3,508,384
20	$5,781,168	-$2,099,363 -$0	$3,681,805
21	$6,070,272	-$2,206,331 -$0	$3,863,941
22	$6,373,816	-$2,318,642 -$0	$4,055,174
23	$6,692,408	-$2,436,521 -$0	$4,255,887
24	$7,027,112	-$2,560,362 -$0	$4,466,750
25	$7,378,384	-$2,690,332 -$0	$4,688,052
26	$7,747,440	-$2,826,883 -$0	$4,920,557
27	$8,134,736	-$2,970,183 -$0	$5,164,553
28	$8,541,488	-$3,120,681 -$0	$5,420,807
29	$8,968,608	-$3,278,715 -$0	$5,689,893
30	$9,417,008	-$3,444,623 -$0	$5,972,385