Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Dec 24, 2024 is estimated to be $944 Million, with a cash option of 429.4 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wisconsin MEGA Millions Jackpot/Cash Option for Tue Dec 24, 2024

Draw Date	Jackpot	Cash Option
Tue Dec 24, 2024	$944,000,000	$429,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$429,400,000
Federal Tax(24%)	$103,056,000
Additional Federal Tax	$55,782,330
State Tax(7.65%)	$32,849,100
Net Lumpsum Payment	$237,712,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$14,208,144	-$5,217,344 -$1,086,923	$7,903,877
2	$14,918,976	-$5,480,352 -$1,141,302	$8,297,322
3	$15,664,736	-$5,756,283 -$1,198,352	$8,710,101
4	$16,448,256	-$6,046,185 -$1,258,292	$9,143,779
5	$17,270,480	-$6,350,408 -$1,321,192	$9,598,880
6	$18,134,240	-$6,669,999 -$1,387,269	$10,076,972
7	$19,040,480	-$7,005,308 -$1,456,597	$10,578,575
8	$19,992,976	-$7,357,732 -$1,529,463	$11,105,781
9	$20,992,672	-$7,727,619 -$1,605,939	$11,659,114
10	$22,042,400	-$8,116,018 -$1,686,244	$12,240,138
11	$23,144,048	-$8,523,628 -$1,770,520	$12,849,900
12	$24,301,392	-$8,951,845 -$1,859,056	$13,490,491
13	$25,516,320	-$9,401,369 -$1,951,998	$14,162,953
14	$26,792,608	-$9,873,595 -$2,049,635	$14,869,378
15	$28,132,144	-$10,369,224 -$2,152,109	$15,610,811
16	$29,538,704	-$10,889,651 -$2,259,711	$16,389,342
17	$31,015,120	-$11,435,925 -$2,372,657	$17,206,538
18	$32,566,112	-$12,009,792 -$2,491,308	$18,065,012
19	$34,194,512	-$12,612,300 -$2,615,880	$18,966,332
20	$35,904,096	-$13,244,846 -$2,746,663	$19,912,587
21	$37,699,584	-$13,909,176 -$2,884,018	$20,906,390
22	$39,584,752	-$14,606,689 -$3,028,234	$21,949,829
23	$41,563,376	-$15,338,780 -$3,179,598	$23,044,998
24	$43,642,064	-$16,107,894 -$3,338,618	$24,195,552
25	$45,823,648	-$16,915,080 -$3,505,509	$25,403,059
26	$48,115,680	-$17,763,132 -$3,680,850	$26,671,698
27	$50,520,992	-$18,653,097 -$3,864,856	$28,003,039
28	$53,047,136	-$19,587,771 -$4,058,106	$29,401,259
29	$55,699,776	-$20,569,248 -$4,261,033	$30,869,495
30	$58,484,576	-$21,599,624 -$4,474,070	$32,410,882