Wisconsin Lottery

WILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Sep 21, 2024 is estimated to be $195 Million, with a cash option of 99.1 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. 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 Powerball Jackpot/Cash Option for Sat Sep 21, 2024

Draw Date	Jackpot	Cash Option
Sat Sep 21, 2024	$195,000,000	$99,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$99,100,000
Federal Tax(24%)	$23,784,000
Additional Federal Tax	$12,843,330
State Tax(7.65%)	$7,581,150
Net Lumpsum Payment	$54,891,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,934,945	-$1,046,260 -$224,523	$1,664,162
2	$3,081,780	-$1,100,589 -$235,756	$1,745,435
3	$3,235,830	-$1,157,587 -$247,541	$1,830,702
4	$3,397,680	-$1,217,472 -$259,923	$1,920,285
5	$3,567,525	-$1,280,315 -$272,916	$2,014,294
6	$3,745,950	-$1,346,332 -$286,565	$2,113,053
7	$3,933,150	-$1,415,596 -$300,886	$2,216,668
8	$4,129,905	-$1,488,395 -$315,938	$2,325,572
9	$4,336,410	-$1,564,802 -$331,735	$2,439,873
10	$4,553,250	-$1,645,033 -$348,324	$2,559,893
11	$4,780,815	-$1,729,232 -$365,732	$2,685,851
12	$5,019,885	-$1,817,688 -$384,021	$2,818,176
13	$5,270,850	-$1,910,545 -$403,220	$2,957,085
14	$5,534,490	-$2,008,092 -$423,388	$3,103,010
15	$5,811,195	-$2,110,473 -$444,556	$3,256,166
16	$6,101,745	-$2,217,976 -$466,783	$3,416,986
17	$6,406,725	-$2,330,819 -$490,114	$3,585,792
18	$6,727,110	-$2,449,361 -$514,624	$3,763,125
19	$7,063,485	-$2,573,820 -$540,357	$3,949,308
20	$7,416,630	-$2,704,483 -$567,372	$4,144,775
21	$7,787,520	-$2,841,713 -$595,745	$4,350,062
22	$8,176,935	-$2,985,796 -$625,536	$4,565,603
23	$8,585,655	-$3,137,023 -$656,803	$4,791,829
24	$9,015,045	-$3,295,897 -$689,651	$5,029,497
25	$9,465,690	-$3,462,636 -$724,125	$5,278,929
26	$9,939,150	-$3,637,816 -$760,345	$5,540,989
27	$10,436,010	-$3,821,654 -$798,355	$5,816,001
28	$10,957,830	-$4,014,727 -$838,274	$6,104,829
29	$11,505,780	-$4,217,469 -$880,192	$6,408,119
30	$12,081,030	-$4,430,311 -$924,199	$6,726,520