Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 30, 2024 is estimated to be $257 Million, with a cash option of 115.6 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wisconsin MEGA Millions Jackpot/Cash Option for Tue Apr 30, 2024

Draw Date	Jackpot	Cash Option
Tue Apr 30, 2024	$257,000,000	$115,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$115,600,000
Federal Tax(24%)	$27,744,000
Additional Federal Tax	$14,988,330
State Tax(7.65%)	$8,843,400
Net Lumpsum Payment	$64,024,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,868,107	-$1,391,530 -$295,910	$2,180,667
2	$4,061,628	-$1,463,133 -$310,715	$2,287,780
3	$4,264,658	-$1,538,254 -$326,246	$2,400,158
4	$4,477,968	-$1,617,179 -$342,565	$2,518,224
5	$4,701,815	-$1,700,002 -$359,689	$2,642,124
6	$4,936,970	-$1,787,009 -$377,678	$2,772,283
7	$5,183,690	-$1,878,296 -$396,552	$2,908,842
8	$5,443,003	-$1,974,241 -$416,390	$3,052,372
9	$5,715,166	-$2,074,942 -$437,210	$3,203,014
10	$6,000,950	-$2,180,682 -$459,073	$3,361,195
11	$6,300,869	-$2,291,652 -$482,016	$3,527,201
12	$6,615,951	-$2,408,232 -$506,120	$3,701,599
13	$6,946,710	-$2,530,613 -$531,423	$3,884,674
14	$7,294,174	-$2,659,175 -$558,004	$4,076,995
15	$7,658,857	-$2,794,107 -$585,903	$4,278,847
16	$8,041,787	-$2,935,792 -$615,197	$4,490,798
17	$8,443,735	-$3,084,512 -$645,946	$4,713,277
18	$8,865,986	-$3,240,745 -$678,248	$4,946,993
19	$9,309,311	-$3,404,775 -$712,162	$5,192,374
20	$9,774,738	-$3,576,983 -$747,767	$5,449,988
21	$10,263,552	-$3,757,845 -$785,162	$5,720,545
22	$10,776,781	-$3,947,739 -$824,424	$6,004,618
23	$11,315,453	-$4,147,048 -$865,632	$6,302,773
24	$11,881,367	-$4,356,436 -$908,925	$6,616,006
25	$12,475,294	-$4,576,189 -$954,360	$6,944,745
26	$13,099,290	-$4,807,068 -$1,002,096	$7,290,126
27	$13,754,126	-$5,049,357 -$1,052,191	$7,652,578
28	$14,441,858	-$5,303,818 -$1,104,802	$8,033,238
29	$15,164,028	-$5,571,021 -$1,160,048	$8,432,959
30	$15,922,178	-$5,851,536 -$1,218,047	$8,852,595