The jackpot for the MEGA Millions draw on Tue Sep 10, 2024, is projected to be $800 Million, with an option for a cash payout of $401.8 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 Tue Sep 10, 2024 |
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Draw Date | Tue Sep 10, 2024 | Projected Jackpot | $800,000,000 | Cash Value | $401,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $401,800,000 | Federal Tax(24%) | $96,432,000 | Additional Federal Tax | $52,194,330 | State Tax(7.65%) | $30,737,700 | Net Lumpsum Payment | $222,435,970 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$12,040,800 |
$4,415,426 $921,121 |
$6,704,253 |
2 |
$12,643,200 |
$4,638,314 $967,205 |
$7,037,681 |
3 |
$13,275,200 |
$4,872,154 $1,015,553 |
$7,387,493 |
4 |
$13,939,200 |
$5,117,834 $1,066,349 |
$7,755,017 |
5 |
$14,636,000 |
$5,375,650 $1,119,654 |
$8,140,696 |
6 |
$15,368,000 |
$5,646,490 $1,175,652 |
$8,545,858 |
7 |
$16,136,000 |
$5,930,650 $1,234,404 |
$8,970,946 |
8 |
$16,943,200 |
$6,229,314 $1,296,155 |
$9,417,731 |
9 |
$17,790,400 |
$6,542,778 $1,360,966 |
$9,886,656 |
10 |
$18,680,000 |
$6,871,930 $1,429,020 |
$10,379,050 |
11 |
$19,613,600 |
$7,217,362 $1,500,440 |
$10,895,798 |
12 |
$20,594,400 |
$7,580,258 $1,575,472 |
$11,438,670 |
13 |
$21,624,000 |
$7,961,210 $1,654,236 |
$12,008,554 |
14 |
$22,705,600 |
$8,361,402 $1,736,978 |
$12,607,220 |
15 |
$23,840,800 |
$8,781,426 $1,823,821 |
$13,235,553 |
16 |
$25,032,800 |
$9,222,466 $1,915,009 |
$13,895,325 |
17 |
$26,284,000 |
$9,685,410 $2,010,726 |
$14,587,864 |
18 |
$27,598,400 |
$10,171,738 $2,111,278 |
$15,315,384 |
19 |
$28,978,400 |
$10,682,338 $2,216,848 |
$16,079,214 |
20 |
$30,427,200 |
$11,218,394 $2,327,681 |
$16,881,125 |
21 |
$31,948,800 |
$11,781,386 $2,444,083 |
$17,723,331 |
22 |
$33,546,400 |
$12,372,498 $2,566,300 |
$18,607,602 |
23 |
$35,223,200 |
$12,992,914 $2,694,575 |
$19,535,711 |
24 |
$36,984,800 |
$13,644,706 $2,829,337 |
$20,510,757 |
25 |
$38,833,600 |
$14,328,762 $2,970,770 |
$21,534,068 |
26 |
$40,776,000 |
$15,047,450 $3,119,364 |
$22,609,186 |
27 |
$42,814,400 |
$15,801,658 $3,275,302 |
$23,737,440 |
28 |
$44,955,200 |
$16,593,754 $3,439,073 |
$24,922,373 |
29 |
$47,203,200 |
$17,425,514 $3,611,045 |
$26,166,641 |
30 |
$49,563,200 |
$18,298,714 $3,791,585 |
$27,472,901 |
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