Wisconsin Lottery

WILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 11, 2024 is estimated to be $36 Million, with a cash option of 16.8 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 May 11, 2024

Draw Date	Jackpot	Cash Option
Sat May 11, 2024	$36,000,000	$16,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$16,800,000
Federal Tax(24%)	$4,032,000
Additional Federal Tax	$2,144,330
State Tax(7.65%)	$1,285,200
Net Lumpsum Payment	$9,338,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$541,836	-$160,810 -$41,450	$339,576
2	$568,944	-$170,840 -$43,524	$354,580
3	$597,384	-$181,362 -$45,700	$370,322
4	$627,264	-$192,418 -$47,986	$386,860
5	$658,620	-$204,020 -$50,384	$404,216
6	$691,560	-$216,208 -$52,904	$422,448
7	$726,120	-$228,995 -$55,548	$441,577
8	$762,444	-$242,435 -$58,327	$461,682
9	$800,568	-$256,541 -$61,243	$482,784
10	$840,600	-$271,352 -$64,306	$504,942
11	$882,612	-$286,897 -$67,520	$528,195
12	$926,748	-$303,227 -$70,896	$552,625
13	$973,080	-$320,370 -$74,441	$578,269
14	$1,021,752	-$338,379 -$78,164	$605,209
15	$1,072,836	-$357,280 -$82,072	$633,484
16	$1,126,476	-$377,127 -$86,175	$663,174
17	$1,182,780	-$397,959 -$90,483	$694,338
18	$1,241,928	-$419,844 -$95,007	$727,077
19	$1,304,028	-$442,821 -$99,758	$761,449
20	$1,369,224	-$466,943 -$104,746	$797,535
21	$1,437,696	-$492,278 -$109,984	$835,434
22	$1,509,588	-$518,878 -$115,483	$875,227
23	$1,585,044	-$546,797 -$121,256	$916,991
24	$1,664,316	-$576,127 -$127,320	$960,869
25	$1,747,512	-$606,910 -$133,685	$1,006,917
26	$1,834,920	-$639,251 -$140,371	$1,055,298
27	$1,926,648	-$673,190 -$147,389	$1,106,069
28	$2,022,984	-$708,834 -$154,758	$1,159,392
29	$2,124,144	-$746,264 -$162,497	$1,215,383
30	$2,230,344	-$785,558 -$170,621	$1,274,165