Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri May 10, 2024 is estimated to be $331 Million, with a cash option of 153.1 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 May 10, 2024

Draw Date	Jackpot	Cash Option
Fri May 10, 2024	$331,000,000	$153,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$153,100,000
Federal Tax(24%)	$36,744,000
Additional Federal Tax	$19,863,330
State Tax(7.65%)	$11,712,150
Net Lumpsum Payment	$84,780,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,981,881	-$1,803,626 -$381,114	$2,797,141
2	$5,231,124	-$1,895,846 -$400,181	$2,935,097
3	$5,492,614	-$1,992,598 -$420,185	$3,079,831
4	$5,767,344	-$2,094,248 -$441,202	$3,231,894
5	$6,055,645	-$2,200,919 -$463,257	$3,391,469
6	$6,358,510	-$2,312,979 -$486,426	$3,559,105
7	$6,676,270	-$2,430,550 -$510,735	$3,734,985
8	$7,010,249	-$2,554,123 -$536,284	$3,919,842
9	$7,360,778	-$2,683,818 -$563,100	$4,113,860
10	$7,728,850	-$2,820,005 -$591,257	$4,317,588
11	$8,115,127	-$2,962,927 -$620,807	$4,531,393
12	$8,520,933	-$3,113,076 -$651,851	$4,756,006
13	$8,946,930	-$3,270,694 -$684,440	$4,991,796
14	$9,394,442	-$3,436,274 -$718,675	$5,239,493
15	$9,864,131	-$3,610,059 -$754,606	$5,499,466
16	$10,357,321	-$3,792,539 -$792,335	$5,772,447
17	$10,875,005	-$3,984,082 -$831,938	$6,058,985
18	$11,418,838	-$4,185,300 -$873,541	$6,359,997
19	$11,989,813	-$4,396,561 -$917,221	$6,676,031
20	$12,589,254	-$4,618,354 -$963,078	$7,007,822
21	$13,218,816	-$4,851,292 -$1,011,239	$7,356,285
22	$13,879,823	-$5,095,865 -$1,061,806	$7,722,152
23	$14,573,599	-$5,352,562 -$1,114,880	$8,106,157
24	$15,302,461	-$5,622,241 -$1,170,638	$8,509,582
25	$16,067,402	-$5,905,269 -$1,229,156	$8,932,977
26	$16,871,070	-$6,202,626 -$1,290,637	$9,377,807
27	$17,714,458	-$6,514,680 -$1,355,156	$9,844,622
28	$18,600,214	-$6,842,410 -$1,422,916	$10,334,888
29	$19,530,324	-$7,186,550 -$1,494,070	$10,849,704
30	$20,506,774	-$7,547,837 -$1,568,768	$11,390,169