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Powerball Annuity Jackpot Analysis for Wyoming

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $125,000,000 would be for a resident of Wyoming, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Wyoming

Drawing Date:  Sat, May 30, 2020
Jackpot:$125,000,000
Federal Tax:  24%
State Tax:No state tax on lottery prizes
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,881,429$451,543$0$1,429,886
2$1,975,501$474,120$0$1,501,381
3$2,074,276$497,826$0$1,576,450
4$2,177,990$522,718$0$1,655,272
5$2,286,889$548,853$0$1,738,036
6$2,401,234$576,296$0$1,824,938
7$2,521,295$605,111$0$1,916,184
8$2,647,360$635,366$0$2,011,994
9$2,779,728$667,135$0$2,112,593
10$2,918,715$700,491$0$2,218,223
11$3,064,650$735,516$0$2,329,134
12$3,217,883$772,292$0$2,445,591
13$3,378,777$810,906$0$2,567,870
14$3,547,716$851,452$0$2,696,264
15$3,725,102$894,024$0$2,831,077
16$3,911,357$938,726$0$2,972,631
17$4,106,924$985,662$0$3,121,263
18$4,312,271$1,034,945$0$3,277,326
19$4,527,884$1,086,692$0$3,441,192
20$4,754,278$1,141,027$0$3,613,252
21$4,991,992$1,198,078$0$3,793,914
22$5,241,592$1,257,982$0$3,983,610
23$5,503,672$1,320,881$0$4,182,790
24$5,778,855$1,386,925$0$4,391,930
25$6,067,798$1,456,271$0$4,611,526
26$6,371,188$1,529,085$0$4,842,103
27$6,689,747$1,605,539$0$5,084,208
28$7,024,234$1,685,816$0$5,338,418
29$7,375,446$1,770,107$0$5,605,339
30$7,744,219$1,858,612$0$5,885,606
Total$125,000,000$30,000,000$0$95,000,000
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