The jackpot for the Powerball draw on Wed Jan 29, 2025, is projected to be $69 Million, with an option for a cash payout of $30.7 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For those living in Wyoming, the bright side is you won't have to pay any state taxes on your lottery prize.
| Wyoming Powerball Jackpot/Cash Option for Wed Jan 29, 2025 |
|---|
| Draw Date | Wed Jan 29, 2025 | | Projected Jackpot | $69,000,000 | | Cash Value | $30,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $30,700,000 | | Federal Tax(24%) | $7,368,000 | | Additional Federal Tax | $3,951,330 | | State Tax(0%) | $0 | | Net Lumpsum Payment | $19,380,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,038,519 |
$344,582
$0 |
$693,937 |
| 2 |
$1,090,476 |
$363,807
$0 |
$726,669 |
| 3 |
$1,144,986 |
$383,975
$0 |
$761,011 |
| 4 |
$1,202,256 |
$405,165
$0 |
$797,091 |
| 5 |
$1,262,355 |
$427,402
$0 |
$834,953 |
| 6 |
$1,325,490 |
$450,762
$0 |
$874,728 |
| 7 |
$1,391,730 |
$475,270
$0 |
$916,460 |
| 8 |
$1,461,351 |
$501,030
$0 |
$960,321 |
| 9 |
$1,534,422 |
$528,067
$0 |
$1,006,355 |
| 10 |
$1,611,150 |
$556,456
$0 |
$1,054,694 |
| 11 |
$1,691,673 |
$586,249
$0 |
$1,105,424 |
| 12 |
$1,776,267 |
$617,549
$0 |
$1,158,718 |
| 13 |
$1,865,070 |
$650,406
$0 |
$1,214,664 |
| 14 |
$1,958,358 |
$684,923
$0 |
$1,273,435 |
| 15 |
$2,056,269 |
$721,150
$0 |
$1,335,119 |
| 16 |
$2,159,079 |
$759,190
$0 |
$1,399,889 |
| 17 |
$2,266,995 |
$799,119
$0 |
$1,467,876 |
| 18 |
$2,380,362 |
$841,064
$0 |
$1,539,298 |
| 19 |
$2,499,387 |
$885,104
$0 |
$1,614,283 |
| 20 |
$2,624,346 |
$931,338
$0 |
$1,693,008 |
| 21 |
$2,755,584 |
$979,896
$0 |
$1,775,688 |
| 22 |
$2,893,377 |
$1,030,880
$0 |
$1,862,497 |
| 23 |
$3,038,001 |
$1,084,391
$0 |
$1,953,610 |
| 24 |
$3,189,939 |
$1,140,608
$0 |
$2,049,331 |
| 25 |
$3,349,398 |
$1,199,608
$0 |
$2,149,790 |
| 26 |
$3,516,930 |
$1,261,594
$0 |
$2,255,336 |
| 27 |
$3,692,742 |
$1,326,645
$0 |
$2,366,097 |
| 28 |
$3,877,386 |
$1,394,963
$0 |
$2,482,423 |
| 29 |
$4,071,276 |
$1,466,703
$0 |
$2,604,573 |
| 30 |
$4,274,826 |
$1,542,016
$0 |
$2,732,810 |
|
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