Wisconsin Lottery

WILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Dec 21, 2024 is estimated to be $88 Million, with a cash option of 41 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 Dec 21, 2024

Draw Date	Jackpot	Cash Option
Sat Dec 21, 2024	$88,000,000	$41,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$41,000,000
Federal Tax(24%)	$9,840,000
Additional Federal Tax	$5,290,330
State Tax(7.65%)	$3,136,500
Net Lumpsum Payment	$22,733,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,324,488	-$450,391 -$101,323	$772,774
2	$1,390,752	-$474,909 -$106,393	$809,450
3	$1,460,272	-$500,631 -$111,711	$847,930
4	$1,533,312	-$527,656 -$117,298	$888,358
5	$1,609,960	-$556,016 -$123,162	$930,782
6	$1,690,480	-$585,808 -$129,322	$975,350
7	$1,774,960	-$617,066 -$135,784	$1,022,110
8	$1,863,752	-$649,919 -$142,577	$1,071,256
9	$1,956,944	-$684,400 -$149,706	$1,122,838
10	$2,054,800	-$720,606 -$157,192	$1,177,002
11	$2,157,496	-$758,604 -$165,048	$1,233,844
12	$2,265,384	-$798,522 -$173,302	$1,293,560
13	$2,378,640	-$840,427 -$181,966	$1,356,247
14	$2,497,616	-$884,448 -$191,068	$1,422,100
15	$2,622,488	-$930,651 -$200,620	$1,491,217
16	$2,753,608	-$979,165 -$210,651	$1,563,792
17	$2,891,240	-$1,030,089 -$221,180	$1,639,971
18	$3,035,824	-$1,083,585 -$232,241	$1,719,998
19	$3,187,624	-$1,139,751 -$243,853	$1,804,020
20	$3,346,992	-$1,198,717 -$256,045	$1,892,230
21	$3,514,368	-$1,260,647 -$268,849	$1,984,872
22	$3,690,104	-$1,325,669 -$282,293	$2,082,142
23	$3,874,552	-$1,393,915 -$296,403	$2,184,234
24	$4,068,328	-$1,465,612 -$311,227	$2,291,489
25	$4,271,696	-$1,540,858 -$326,785	$2,404,053
26	$4,485,360	-$1,619,914 -$343,130	$2,522,316
27	$4,709,584	-$1,702,876 -$360,283	$2,646,425
28	$4,945,072	-$1,790,007 -$378,298	$2,776,767
29	$5,192,352	-$1,881,501 -$397,215	$2,913,636
30	$5,451,952	-$1,977,553 -$417,074	$3,057,325