Wisconsin Lottery

WILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Nov 23, 2024 is estimated to be $171 Million, with a cash option of 78.7 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 Nov 23, 2024

Draw Date	Jackpot	Cash Option
Sat Nov 23, 2024	$171,000,000	$78,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$78,700,000
Federal Tax(24%)	$18,888,000
Additional Federal Tax	$10,191,330
State Tax(7.65%)	$6,020,550
Net Lumpsum Payment	$43,600,120

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,573,721	-$912,607 -$196,890	$1,464,224
2	$2,702,484	-$960,249 -$206,740	$1,535,495
3	$2,837,574	-$1,010,233 -$217,074	$1,610,267
4	$2,979,504	-$1,062,747 -$227,932	$1,688,825
5	$3,128,445	-$1,117,855 -$239,326	$1,771,264
6	$3,284,910	-$1,175,747 -$251,296	$1,857,867
7	$3,449,070	-$1,236,486 -$263,854	$1,948,730
8	$3,621,609	-$1,300,326 -$277,053	$2,044,230
9	$3,802,698	-$1,367,329 -$290,906	$2,144,463
10	$3,992,850	-$1,437,685 -$305,453	$2,249,712
11	$4,192,407	-$1,511,521 -$320,719	$2,360,167
12	$4,402,053	-$1,589,090 -$336,757	$2,476,206
13	$4,622,130	-$1,670,518 -$353,593	$2,598,019
14	$4,853,322	-$1,756,060 -$371,279	$2,725,983
15	$5,095,971	-$1,845,840 -$389,842	$2,860,289
16	$5,350,761	-$1,940,112 -$409,333	$3,001,316
17	$5,618,205	-$2,039,066 -$429,793	$3,149,346
18	$5,899,158	-$2,143,019 -$451,286	$3,304,853
19	$6,194,133	-$2,252,160 -$473,851	$3,468,122
20	$6,503,814	-$2,366,742 -$497,542	$3,639,530
21	$6,829,056	-$2,487,081 -$522,423	$3,819,552
22	$7,170,543	-$2,613,431 -$548,547	$4,008,565
23	$7,528,959	-$2,746,045 -$575,965	$4,206,949
24	$7,905,501	-$2,885,366 -$604,771	$4,415,364
25	$8,300,682	-$3,031,583 -$635,002	$4,634,097
26	$8,715,870	-$3,185,202 -$666,764	$4,863,904
27	$9,151,578	-$3,346,414 -$700,096	$5,105,068
28	$9,609,174	-$3,515,725 -$735,102	$5,358,347
29	$10,089,684	-$3,693,513 -$771,861	$5,624,310
30	$10,594,134	-$3,880,160 -$810,451	$5,903,523