Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Dec 4, 2023 is estimated to be $412 Million, with a cash option of 194 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 4, 2023

Draw Date	Jackpot	Cash Option
Mon Dec 4, 2023	$412,000,000	$194,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$194,000,000
Federal Tax(24%)	$46,560,000
Additional Federal Tax	$25,180,330
State Tax(0%)	$0
Net Lumpsum Payment	$122,259,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,201,012	-$2,254,705 -$0	$3,946,307
2	$6,511,248	-$2,369,492 -$0	$4,141,756
3	$6,836,728	-$2,489,920 -$0	$4,346,808
4	$7,178,688	-$2,616,445 -$0	$4,562,243
5	$7,537,540	-$2,749,220 -$0	$4,788,320
6	$7,914,520	-$2,888,703 -$0	$5,025,817
7	$8,310,040	-$3,035,045 -$0	$5,274,995
8	$8,725,748	-$3,188,857 -$0	$5,536,891
9	$9,162,056	-$3,350,291 -$0	$5,811,765
10	$9,620,200	-$3,519,804 -$0	$6,100,396
11	$10,101,004	-$3,697,702 -$0	$6,403,302
12	$10,606,116	-$3,884,593 -$0	$6,721,523
13	$11,136,360	-$4,080,784 -$0	$7,055,576
14	$11,693,384	-$4,286,882 -$0	$7,406,502
15	$12,278,012	-$4,503,195 -$0	$7,774,817
16	$12,891,892	-$4,730,330 -$0	$8,161,562
17	$13,536,260	-$4,968,747 -$0	$8,567,513
18	$14,213,176	-$5,219,206 -$0	$8,993,970
19	$14,923,876	-$5,482,165 -$0	$9,441,711
20	$15,670,008	-$5,758,233 -$0	$9,911,775
21	$16,453,632	-$6,048,174 -$0	$10,405,458
22	$17,276,396	-$6,352,597 -$0	$10,923,799
23	$18,139,948	-$6,672,111 -$0	$11,467,837
24	$19,047,172	-$7,007,784 -$0	$12,039,388
25	$19,999,304	-$7,360,073 -$0	$12,639,231
26	$20,999,640	-$7,730,197 -$0	$13,269,443
27	$22,049,416	-$8,118,614 -$0	$13,930,802
28	$23,151,928	-$8,526,544 -$0	$14,625,384
29	$24,309,648	-$8,954,900 -$0	$15,354,748
30	$25,525,048	-$9,404,598 -$0	$16,120,450