Wyoming Lottery

WYLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Sep 23, 2023 is estimated to be $725 Million, with a cash option of 345.7 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 23, 2023

Draw Date	Jackpot	Cash Option
Sat Sep 23, 2023	$725,000,000	$345,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$345,700,000
Federal Tax(24%)	$82,968,000
Additional Federal Tax	$44,901,330
State Tax(0%)	$0
Net Lumpsum Payment	$217,830,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,911,975	-$3,997,761 -$0	$6,914,214
2	$11,457,900	-$4,199,753 -$0	$7,258,147
3	$12,030,650	-$4,411,671 -$0	$7,618,979
4	$12,632,400	-$4,634,318 -$0	$7,998,082
5	$13,263,875	-$4,867,964 -$0	$8,395,911
6	$13,927,250	-$5,113,413 -$0	$8,813,837
7	$14,623,250	-$5,370,933 -$0	$9,252,317
8	$15,354,775	-$5,641,597 -$0	$9,713,178
9	$16,122,550	-$5,925,674 -$0	$10,196,876
10	$16,928,750	-$6,223,968 -$0	$10,704,782
11	$17,774,825	-$6,537,016 -$0	$11,237,809
12	$18,663,675	-$6,865,890 -$0	$11,797,785
13	$19,596,750	-$7,211,128 -$0	$12,385,622
14	$20,576,950	-$7,573,802 -$0	$13,003,148
15	$21,605,725	-$7,954,449 -$0	$13,651,276
16	$22,685,975	-$8,354,141 -$0	$14,331,834
17	$23,819,875	-$8,773,684 -$0	$15,046,191
18	$25,011,050	-$9,214,419 -$0	$15,796,631
19	$26,261,675	-$9,677,150 -$0	$16,584,525
20	$27,574,650	-$10,162,951 -$0	$17,411,699
21	$28,953,600	-$10,673,162 -$0	$18,280,438
22	$30,401,425	-$11,208,858 -$0	$19,192,567
23	$31,921,025	-$11,771,110 -$0	$20,149,915
24	$33,517,475	-$12,361,796 -$0	$21,155,679
25	$35,192,950	-$12,981,722 -$0	$22,211,228
26	$36,953,250	-$13,633,033 -$0	$23,320,217
27	$38,800,550	-$14,316,534 -$0	$24,484,016
28	$40,740,650	-$15,034,371 -$0	$25,706,279
29	$42,777,900	-$15,788,153 -$0	$26,989,747
30	$44,916,650	-$16,579,491 -$0	$28,337,159