Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Mar 5, 2024 is estimated to be $650 Million, with a cash option of 308.6 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 Mar 5, 2024

Draw Date Jackpot Cash Option
Tue Mar 5, 2024$650,000,000$308,600,000

Lumpsum Option Taxes and Payment

Category Amount
Cash Gross Payment$308,600,000
Federal Tax(24%)$74,064,000
Additional Federal Tax$40,078,330
State Tax(0%)$0
Net Lumpsum Payment$194,457,670

Annuity Payment in 30 Installations

Year Gross Payment Fed/State Tax Net Payment
1 $9,783,150 -$3,580,096
-$0
$6,203,054
2 $10,272,600 -$3,761,192
-$0
$6,511,408
3 $10,786,100 -$3,951,187
-$0
$6,834,913
4 $11,325,600 -$4,150,802
-$0
$7,174,798
5 $11,891,750 -$4,360,278
-$0
$7,531,472
6 $12,486,500 -$4,580,335
-$0
$7,906,165
7 $13,110,500 -$4,811,215
-$0
$8,299,285
8 $13,766,350 -$5,053,880
-$0
$8,712,470
9 $14,454,700 -$5,308,569
-$0
$9,146,131
10 $15,177,500 -$5,576,005
-$0
$9,601,495
11 $15,936,050 -$5,856,669
-$0
$10,079,381
12 $16,732,950 -$6,151,522
-$0
$10,581,428
13 $17,569,500 -$6,461,045
-$0
$11,108,455
14 $18,448,300 -$6,786,201
-$0
$11,662,099
15 $19,370,650 -$7,127,471
-$0
$12,243,179
16 $20,339,150 -$7,485,816
-$0
$12,853,334
17 $21,355,750 -$7,861,958
-$0
$13,493,792
18 $22,423,700 -$8,257,099
-$0
$14,166,601
19 $23,544,950 -$8,671,962
-$0
$14,872,988
20 $24,722,100 -$9,107,507
-$0
$15,614,593
21 $25,958,400 -$9,564,938
-$0
$16,393,462
22 $27,256,450 -$10,045,217
-$0
$17,211,233
23 $28,618,850 -$10,549,305
-$0
$18,069,545
24 $30,050,150 -$11,078,886
-$0
$18,971,264
25 $31,552,300 -$11,634,681
-$0
$19,917,619
26 $33,130,500 -$12,218,615
-$0
$20,911,885
27 $34,786,700 -$12,831,409
-$0
$21,955,291
28 $36,526,100 -$13,474,987
-$0
$23,051,113
29 $38,352,600 -$14,150,792
-$0
$24,201,808
30 $40,270,100 -$14,860,267
-$0
$25,409,833
Cash Option: $308.6 Million
Next Draw: Tue Mar 5
Mega Millions
Fri Mar 1, 2024
153337556124

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