Wisconsin Lottery

WILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Feb 21, 2025 is estimated to be $165 Million, with a cash option of 75.1 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Wisconsin MEGA Millions Jackpot/Cash Option for Fri Feb 21, 2025

Draw Date	Jackpot	Cash Option
Fri Feb 21, 2025	$165,000,000	$75,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$75,100,000
Federal Tax(24%)	$18,024,000
Additional Federal Tax	$9,723,330
State Tax(7.65%)	$5,745,150
Net Lumpsum Payment	$41,607,520

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,483,415	-$879,194 -$189,981	$1,414,240
2	$2,607,660	-$925,165 -$199,486	$1,483,009
3	$2,738,010	-$973,394 -$209,458	$1,555,158
4	$2,874,960	-$1,024,066 -$219,934	$1,630,960
5	$3,018,675	-$1,077,240 -$230,929	$1,710,506
6	$3,169,650	-$1,133,101 -$242,478	$1,794,071
7	$3,328,050	-$1,191,709 -$254,596	$1,881,745
8	$3,494,535	-$1,253,308 -$267,332	$1,973,895
9	$3,669,270	-$1,317,960 -$280,699	$2,070,611
10	$3,852,750	-$1,385,848 -$294,735	$2,172,167
11	$4,045,305	-$1,457,093 -$309,466	$2,278,746
12	$4,247,595	-$1,531,941 -$324,941	$2,390,713
13	$4,459,950	-$1,610,512 -$341,186	$2,508,252
14	$4,683,030	-$1,693,051 -$358,252	$2,631,727
15	$4,917,165	-$1,779,681 -$376,163	$2,761,321
16	$5,163,015	-$1,870,646 -$394,971	$2,897,398
17	$5,421,075	-$1,966,128 -$414,712	$3,040,235
18	$5,692,170	-$2,066,433 -$435,451	$3,190,286
19	$5,976,795	-$2,171,745 -$457,225	$3,347,825
20	$6,275,610	-$2,282,306 -$480,084	$3,513,220
21	$6,589,440	-$2,398,423 -$504,092	$3,686,925
22	$6,918,945	-$2,520,340 -$529,299	$3,869,306
23	$7,264,785	-$2,648,301 -$555,756	$4,060,728
24	$7,628,115	-$2,782,733 -$583,551	$4,261,831
25	$8,009,430	-$2,923,819 -$612,721	$4,472,890
26	$8,410,050	-$3,072,049 -$643,369	$4,694,632
27	$8,830,470	-$3,227,604 -$675,531	$4,927,335
28	$9,272,010	-$3,390,974 -$709,309	$5,171,727
29	$9,735,660	-$3,562,525 -$744,778	$5,428,357
30	$10,222,410	-$3,742,622 -$782,014	$5,697,774