Wyoming Lottery

WYLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jan 14, 2025 is estimated to be $95 Million, with a cash option of 41.6 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wyoming MEGA Millions Jackpot/Cash Option for Tue Jan 14, 2025

Draw Date	Jackpot	Cash Option
Tue Jan 14, 2025	$95,000,000	$41,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$41,600,000
Federal Tax(24%)	$9,984,000
Additional Federal Tax	$5,368,330
State Tax(0%)	$0
Net Lumpsum Payment	$26,247,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,429,845	-$489,373 -$0	$940,472
2	$1,501,380	-$515,841 -$0	$985,539
3	$1,576,430	-$543,609 -$0	$1,032,821
4	$1,655,280	-$572,784 -$0	$1,082,496
5	$1,738,025	-$603,400 -$0	$1,134,625
6	$1,824,950	-$635,562 -$0	$1,189,388
7	$1,916,150	-$669,306 -$0	$1,246,844
8	$2,012,005	-$704,772 -$0	$1,307,233
9	$2,112,610	-$741,996 -$0	$1,370,614
10	$2,218,250	-$781,083 -$0	$1,437,167
11	$2,329,115	-$822,103 -$0	$1,507,012
12	$2,445,585	-$865,197 -$0	$1,580,388
13	$2,567,850	-$910,435 -$0	$1,657,415
14	$2,696,290	-$957,958 -$0	$1,738,332
15	$2,831,095	-$1,007,836 -$0	$1,823,259
16	$2,972,645	-$1,060,209 -$0	$1,912,436
17	$3,121,225	-$1,115,184 -$0	$2,006,041
18	$3,277,310	-$1,172,935 -$0	$2,104,375
19	$3,441,185	-$1,233,569 -$0	$2,207,616
20	$3,613,230	-$1,297,225 -$0	$2,316,005
21	$3,793,920	-$1,364,081 -$0	$2,429,839
22	$3,983,635	-$1,434,275 -$0	$2,549,360
23	$4,182,755	-$1,507,950 -$0	$2,674,805
24	$4,391,945	-$1,585,350 -$0	$2,806,595
25	$4,611,490	-$1,666,582 -$0	$2,944,908
26	$4,842,150	-$1,751,926 -$0	$3,090,224
27	$5,084,210	-$1,841,488 -$0	$3,242,722
28	$5,338,430	-$1,935,549 -$0	$3,402,881
29	$5,605,380	-$2,034,321 -$0	$3,571,059
30	$5,885,630	-$2,138,013 -$0	$3,747,617