Wisconsin Lottery

WILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Apr 29, 2024 is estimated to be $164 Million, with a cash option of 74.9 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 Mon Apr 29, 2024

Draw Date	Jackpot	Cash Option
Mon Apr 29, 2024	$164,000,000	$74,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$74,900,000
Federal Tax(24%)	$17,976,000
Additional Federal Tax	$9,697,330
State Tax(7.65%)	$5,729,850
Net Lumpsum Payment	$41,496,820

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,468,364	-$873,625 -$188,830	$1,405,909
2	$2,591,856	-$919,317 -$198,277	$1,474,262
3	$2,721,416	-$967,254 -$208,188	$1,545,974
4	$2,857,536	-$1,017,619 -$218,602	$1,621,315
5	$3,000,380	-$1,070,471 -$229,529	$1,700,380
6	$3,150,440	-$1,125,993 -$241,009	$1,783,438
7	$3,307,880	-$1,184,246 -$253,053	$1,870,581
8	$3,473,356	-$1,245,472 -$265,712	$1,962,172
9	$3,647,032	-$1,309,732 -$278,998	$2,058,302
10	$3,829,400	-$1,377,208 -$292,949	$2,159,243
11	$4,020,788	-$1,448,022 -$307,590	$2,265,176
12	$4,221,852	-$1,522,416 -$322,972	$2,376,464
13	$4,432,920	-$1,600,511 -$339,118	$2,493,291
14	$4,654,648	-$1,682,550 -$356,081	$2,616,017
15	$4,887,364	-$1,768,655 -$373,883	$2,744,826
16	$5,131,724	-$1,859,068 -$392,577	$2,880,079
17	$5,388,220	-$1,953,972 -$412,199	$3,022,049
18	$5,657,672	-$2,053,669 -$432,812	$3,171,191
19	$5,940,572	-$2,158,342 -$454,454	$3,327,776
20	$6,237,576	-$2,268,234 -$477,175	$3,492,167
21	$6,549,504	-$2,383,647 -$501,037	$3,664,820
22	$6,877,012	-$2,504,825 -$526,091	$3,846,096
23	$7,220,756	-$2,632,010 -$552,388	$4,036,358
24	$7,581,884	-$2,765,627 -$580,014	$4,236,243
25	$7,960,888	-$2,905,859 -$609,008	$4,446,021
26	$8,359,080	-$3,053,190 -$639,470	$4,666,420
27	$8,776,952	-$3,207,803 -$671,437	$4,897,712
28	$9,215,816	-$3,370,182 -$705,010	$5,140,624
29	$9,676,656	-$3,540,693 -$740,264	$5,395,699
30	$10,160,456	-$3,719,699 -$777,275	$5,663,482