Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 22, 2024 is estimated to be $453 Million, with a cash option of 209.6 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 Fri Nov 22, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 22, 2024	$453,000,000	$209,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$209,600,000
Federal Tax(24%)	$50,304,000
Additional Federal Tax	$27,208,330
State Tax(7.65%)	$16,034,400
Net Lumpsum Payment	$116,053,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$521,585	$3,813,490
2	$7,159,212	-$2,609,239 -$547,680	$4,002,293
3	$7,517,082	-$2,741,651 -$575,057	$4,200,374
4	$7,893,072	-$2,880,767 -$603,820	$4,408,485
5	$8,287,635	-$3,026,755 -$634,004	$4,626,876
6	$8,702,130	-$3,180,118 -$665,713	$4,856,299
7	$9,137,010	-$3,341,024 -$698,981	$5,097,005
8	$9,594,087	-$3,510,143 -$733,948	$5,349,996
9	$10,073,814	-$3,687,642 -$770,647	$5,615,525
10	$10,577,550	-$3,874,024 -$809,183	$5,894,343
11	$11,106,201	-$4,069,625 -$849,624	$6,186,952
12	$11,661,579	-$4,275,115 -$892,111	$6,494,353
13	$12,244,590	-$4,490,829 -$936,711	$6,817,050
14	$12,857,046	-$4,717,437 -$983,564	$7,156,045
15	$13,499,853	-$4,955,276 -$1,032,739	$7,511,838
16	$14,174,823	-$5,205,015 -$1,084,374	$7,885,434
17	$14,883,315	-$5,467,157 -$1,138,574	$8,277,584
18	$15,627,594	-$5,742,540 -$1,195,511	$8,689,543
19	$16,409,019	-$6,031,667 -$1,255,290	$9,122,062
20	$17,229,402	-$6,335,209 -$1,318,049	$9,576,144
21	$18,091,008	-$6,654,003 -$1,383,962	$10,053,043
22	$18,995,649	-$6,988,721 -$1,453,167	$10,553,761
23	$19,945,137	-$7,340,031 -$1,525,803	$11,079,303
24	$20,942,643	-$7,709,108 -$1,602,112	$11,631,423
25	$21,989,526	-$8,096,455 -$1,682,199	$12,210,872
26	$23,089,410	-$8,503,412 -$1,766,340	$12,819,658
27	$24,243,654	-$8,930,482 -$1,854,640	$13,458,532
28	$25,455,882	-$9,379,007 -$1,947,375	$14,129,500
29	$26,728,812	-$9,849,991 -$2,044,754	$14,834,067
30	$28,065,162	-$10,344,440 -$2,146,985	$15,573,737