The jackpot for the MEGA Millions draw on Tue Dec 24, 2024, is projected to be $944 Million, with an option for a cash payout of $429.4 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 Dec 24, 2024 |
|---|
| Draw Date | Tue Dec 24, 2024 | | Projected Jackpot | $944,000,000 | | Cash Value | $429,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $429,400,000 | | Federal Tax(24%) | $103,056,000 | | Additional Federal Tax | $55,782,330 | | State Tax(7.65%) | $32,849,100 | | Net Lumpsum Payment | $237,712,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,208,144 |
$5,217,344
$1,086,923 |
$7,903,877 |
| 2 |
$14,918,976 |
$5,480,352
$1,141,302 |
$8,297,322 |
| 3 |
$15,664,736 |
$5,756,283
$1,198,352 |
$8,710,101 |
| 4 |
$16,448,256 |
$6,046,185
$1,258,292 |
$9,143,779 |
| 5 |
$17,270,480 |
$6,350,408
$1,321,192 |
$9,598,880 |
| 6 |
$18,134,240 |
$6,669,999
$1,387,269 |
$10,076,972 |
| 7 |
$19,040,480 |
$7,005,308
$1,456,597 |
$10,578,575 |
| 8 |
$19,992,976 |
$7,357,732
$1,529,463 |
$11,105,781 |
| 9 |
$20,992,672 |
$7,727,619
$1,605,939 |
$11,659,114 |
| 10 |
$22,042,400 |
$8,116,018
$1,686,244 |
$12,240,138 |
| 11 |
$23,144,048 |
$8,523,628
$1,770,520 |
$12,849,900 |
| 12 |
$24,301,392 |
$8,951,845
$1,859,056 |
$13,490,491 |
| 13 |
$25,516,320 |
$9,401,369
$1,951,998 |
$14,162,953 |
| 14 |
$26,792,608 |
$9,873,595
$2,049,635 |
$14,869,378 |
| 15 |
$28,132,144 |
$10,369,224
$2,152,109 |
$15,610,811 |
| 16 |
$29,538,704 |
$10,889,651
$2,259,711 |
$16,389,342 |
| 17 |
$31,015,120 |
$11,435,925
$2,372,657 |
$17,206,538 |
| 18 |
$32,566,112 |
$12,009,792
$2,491,308 |
$18,065,012 |
| 19 |
$34,194,512 |
$12,612,300
$2,615,880 |
$18,966,332 |
| 20 |
$35,904,096 |
$13,244,846
$2,746,663 |
$19,912,587 |
| 21 |
$37,699,584 |
$13,909,176
$2,884,018 |
$20,906,390 |
| 22 |
$39,584,752 |
$14,606,689
$3,028,234 |
$21,949,829 |
| 23 |
$41,563,376 |
$15,338,780
$3,179,598 |
$23,044,998 |
| 24 |
$43,642,064 |
$16,107,894
$3,338,618 |
$24,195,552 |
| 25 |
$45,823,648 |
$16,915,080
$3,505,509 |
$25,403,059 |
| 26 |
$48,115,680 |
$17,763,132
$3,680,850 |
$26,671,698 |
| 27 |
$50,520,992 |
$18,653,097
$3,864,856 |
$28,003,039 |
| 28 |
$53,047,136 |
$19,587,771
$4,058,106 |
$29,401,259 |
| 29 |
$55,699,776 |
$20,569,248
$4,261,033 |
$30,869,495 |
| 30 |
$58,484,576 |
$21,599,624
$4,474,070 |
$32,410,882 |
|
|
