Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Sep 20, 2024 is estimated to be $47 Million, with a cash option of 23.9 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. Additionally, if you are a resident of Wisconsin, your state will take 7.65% of 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.

Wisconsin MEGA Millions Jackpot/Cash Option for Fri Sep 20, 2024

Draw Date	Jackpot	Cash Option
Fri Sep 20, 2024	$47,000,000	$23,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$23,900,000
Federal Tax(24%)	$5,736,000
Additional Federal Tax	$3,067,330
State Tax(7.65%)	$1,828,350
Net Lumpsum Payment	$13,268,320

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$707,397	-$222,067 -$54,116	$431,214
2	$742,788	-$235,162 -$56,823	$450,803
3	$779,918	-$248,900 -$59,664	$471,354
4	$818,928	-$263,334 -$62,648	$492,946
5	$859,865	-$278,480 -$65,780	$515,605
6	$902,870	-$294,392 -$69,070	$539,408
7	$947,990	-$311,087 -$72,521	$564,382
8	$995,413	-$328,633 -$76,149	$590,631
9	$1,045,186	-$347,049 -$79,957	$618,180
10	$1,097,450	-$366,387 -$83,955	$647,108
11	$1,152,299	-$386,681 -$88,151	$677,467
12	$1,209,921	-$408,001 -$92,559	$709,361
13	$1,270,410	-$430,382 -$97,186	$742,842
14	$1,333,954	-$453,893 -$102,047	$778,014
15	$1,400,647	-$478,570 -$107,149	$814,928
16	$1,470,677	-$504,481 -$112,507	$853,689
17	$1,544,185	-$531,679 -$118,130	$894,376
18	$1,621,406	-$560,251 -$124,038	$937,117
19	$1,702,481	-$590,248 -$130,240	$981,993
20	$1,787,598	-$621,742 -$136,751	$1,029,105
21	$1,876,992	-$654,817 -$143,590	$1,078,585
22	$1,970,851	-$689,545 -$150,770	$1,130,536
23	$2,069,363	-$725,995 -$158,306	$1,185,062
24	$2,172,857	-$764,287 -$166,224	$1,242,346
25	$2,281,474	-$804,476 -$174,533	$1,302,465
26	$2,395,590	-$846,699 -$183,263	$1,365,628
27	$2,515,346	-$891,008 -$192,424	$1,431,914
28	$2,641,118	-$937,544 -$202,046	$1,501,528
29	$2,773,188	-$986,410 -$212,149	$1,574,629
30	$2,911,838	-$1,037,710 -$222,756	$1,651,372