The jackpot for the MEGA Millions draw on Fri May 10, 2024, is projected to be $331 Million, with an option for a cash payout of $153.1 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Wisconsin residents, the state will deduct 7.65% from your lottery earnings.
| Wisconsin MEGA Millions Jackpot/Cash Option for Fri May 10, 2024 |
|---|
| Draw Date | Fri May 10, 2024 | | Projected Jackpot | $331,000,000 | | Cash Value | $153,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $153,100,000 | | Federal Tax(24%) | $36,744,000 | | Additional Federal Tax | $19,863,330 | | State Tax(7.65%) | $11,712,150 | | Net Lumpsum Payment | $84,780,520 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,981,881 |
$1,803,626
$381,114 |
$2,797,141 |
| 2 |
$5,231,124 |
$1,895,846
$400,181 |
$2,935,097 |
| 3 |
$5,492,614 |
$1,992,598
$420,185 |
$3,079,831 |
| 4 |
$5,767,344 |
$2,094,248
$441,202 |
$3,231,894 |
| 5 |
$6,055,645 |
$2,200,919
$463,257 |
$3,391,469 |
| 6 |
$6,358,510 |
$2,312,979
$486,426 |
$3,559,105 |
| 7 |
$6,676,270 |
$2,430,550
$510,735 |
$3,734,985 |
| 8 |
$7,010,249 |
$2,554,123
$536,284 |
$3,919,842 |
| 9 |
$7,360,778 |
$2,683,818
$563,100 |
$4,113,860 |
| 10 |
$7,728,850 |
$2,820,005
$591,257 |
$4,317,588 |
| 11 |
$8,115,127 |
$2,962,927
$620,807 |
$4,531,393 |
| 12 |
$8,520,933 |
$3,113,076
$651,851 |
$4,756,006 |
| 13 |
$8,946,930 |
$3,270,694
$684,440 |
$4,991,796 |
| 14 |
$9,394,442 |
$3,436,274
$718,675 |
$5,239,493 |
| 15 |
$9,864,131 |
$3,610,059
$754,606 |
$5,499,466 |
| 16 |
$10,357,321 |
$3,792,539
$792,335 |
$5,772,447 |
| 17 |
$10,875,005 |
$3,984,082
$831,938 |
$6,058,985 |
| 18 |
$11,418,838 |
$4,185,300
$873,541 |
$6,359,997 |
| 19 |
$11,989,813 |
$4,396,561
$917,221 |
$6,676,031 |
| 20 |
$12,589,254 |
$4,618,354
$963,078 |
$7,007,822 |
| 21 |
$13,218,816 |
$4,851,292
$1,011,239 |
$7,356,285 |
| 22 |
$13,879,823 |
$5,095,865
$1,061,806 |
$7,722,152 |
| 23 |
$14,573,599 |
$5,352,562
$1,114,880 |
$8,106,157 |
| 24 |
$15,302,461 |
$5,622,241
$1,170,638 |
$8,509,582 |
| 25 |
$16,067,402 |
$5,905,269
$1,229,156 |
$8,932,977 |
| 26 |
$16,871,070 |
$6,202,626
$1,290,637 |
$9,377,807 |
| 27 |
$17,714,458 |
$6,514,680
$1,355,156 |
$9,844,622 |
| 28 |
$18,600,214 |
$6,842,410
$1,422,916 |
$10,334,888 |
| 29 |
$19,530,324 |
$7,186,550
$1,494,070 |
$10,849,704 |
| 30 |
$20,506,774 |
$7,547,837
$1,568,768 |
$11,390,169 |
|
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