The jackpot for the Powerball draw on Sat Nov 2, 2024, is projected to be $54 Million, with an option for a cash payout of $25.8 Million. Should you be the lucky winner of the Powerball 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 Powerball Jackpot/Cash Option for Sat Nov 2, 2024 |
|---|
| Draw Date | Sat Nov 2, 2024 | | Projected Jackpot | $54,000,000 | | Cash Value | $25,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $25,800,000 | | Federal Tax(24%) | $6,192,000 | | Additional Federal Tax | $3,314,330 | | State Tax(7.65%) | $1,973,700 | | Net Lumpsum Payment | $14,319,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$812,754 |
$261,049
$62,176 |
$489,529 |
| 2 |
$853,416 |
$276,094
$65,286 |
$512,036 |
| 3 |
$896,076 |
$291,879
$68,550 |
$535,647 |
| 4 |
$940,896 |
$308,462
$71,979 |
$560,455 |
| 5 |
$987,930 |
$325,864
$75,577 |
$586,489 |
| 6 |
$1,037,340 |
$344,146
$79,357 |
$613,837 |
| 7 |
$1,089,180 |
$363,327
$83,322 |
$642,531 |
| 8 |
$1,143,666 |
$383,487
$87,490 |
$672,689 |
| 9 |
$1,200,852 |
$404,646
$91,865 |
$704,341 |
| 10 |
$1,260,900 |
$426,863
$96,459 |
$737,578 |
| 11 |
$1,323,918 |
$450,180
$101,280 |
$772,458 |
| 12 |
$1,390,122 |
$474,676
$106,344 |
$809,102 |
| 13 |
$1,459,620 |
$500,390
$111,661 |
$847,569 |
| 14 |
$1,532,628 |
$527,403
$117,246 |
$887,979 |
| 15 |
$1,609,254 |
$555,754
$123,108 |
$930,392 |
| 16 |
$1,689,714 |
$585,525
$129,263 |
$974,926 |
| 17 |
$1,774,170 |
$616,773
$135,724 |
$1,021,673 |
| 18 |
$1,862,892 |
$649,600
$142,511 |
$1,070,781 |
| 19 |
$1,956,042 |
$684,066
$149,637 |
$1,122,339 |
| 20 |
$2,053,836 |
$720,250
$157,118 |
$1,176,468 |
| 21 |
$2,156,544 |
$758,252
$164,976 |
$1,233,316 |
| 22 |
$2,264,382 |
$798,152
$173,225 |
$1,293,005 |
| 23 |
$2,377,566 |
$840,030
$181,884 |
$1,355,652 |
| 24 |
$2,496,474 |
$884,026
$190,980 |
$1,421,468 |
| 25 |
$2,621,268 |
$930,200
$200,527 |
$1,490,541 |
| 26 |
$2,752,380 |
$978,711
$210,557 |
$1,563,112 |
| 27 |
$2,889,972 |
$1,029,620
$221,083 |
$1,639,269 |
| 28 |
$3,034,476 |
$1,083,087
$232,137 |
$1,719,252 |
| 29 |
$3,186,216 |
$1,139,230
$243,746 |
$1,803,240 |
| 30 |
$3,345,516 |
$1,198,171
$255,932 |
$1,891,413 |
|
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