Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 10, 2025 is estimated to be $77 Million, with a cash option of 34.1 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 Jan 10, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 10, 2025	$77,000,000	$34,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,100,000
Federal Tax(24%)	$8,184,000
Additional Federal Tax	$4,393,330
State Tax(7.65%)	$2,608,650
Net Lumpsum Payment	$18,914,020

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$88,658	$681,136
2	$1,216,908	-$410,586 -$93,093	$713,229
3	$1,277,738	-$433,093 -$97,747	$746,898
4	$1,341,648	-$456,740 -$102,636	$782,272
5	$1,408,715	-$481,555 -$107,767	$819,393
6	$1,479,170	-$507,623 -$113,157	$858,390
7	$1,553,090	-$534,974 -$118,811	$899,305
8	$1,630,783	-$563,720 -$124,755	$942,308
9	$1,712,326	-$593,891 -$130,993	$987,442
10	$1,797,950	-$625,572 -$137,543	$1,034,835
11	$1,887,809	-$658,820 -$144,417	$1,084,572
12	$1,982,211	-$693,748 -$151,639	$1,136,824
13	$2,081,310	-$730,415 -$159,220	$1,191,675
14	$2,185,414	-$768,934 -$167,184	$1,249,296
15	$2,294,677	-$809,361 -$175,543	$1,309,773
16	$2,409,407	-$851,811 -$184,320	$1,373,276
17	$2,529,835	-$896,369 -$193,532	$1,439,934
18	$2,656,346	-$943,178 -$203,210	$1,509,958
19	$2,789,171	-$992,324 -$213,372	$1,583,475
20	$2,928,618	-$1,043,919 -$224,039	$1,660,660
21	$3,075,072	-$1,098,107 -$235,243	$1,741,722
22	$3,228,841	-$1,155,002 -$247,006	$1,826,833
23	$3,390,233	-$1,214,717 -$259,353	$1,916,163
24	$3,559,787	-$1,277,452 -$272,324	$2,010,011
25	$3,737,734	-$1,343,292 -$285,937	$2,108,505
26	$3,924,690	-$1,412,466 -$300,239	$2,211,985
27	$4,120,886	-$1,485,058 -$315,248	$2,320,580
28	$4,326,938	-$1,561,297 -$331,011	$2,434,630
29	$4,543,308	-$1,641,354 -$347,563	$2,554,391
30	$4,770,458	-$1,725,400 -$364,940	$2,680,118