The jackpot for the MEGA Millions draw on Fri Jan 31, 2025, is projected to be $59 Million, with an option for a cash payout of $26.5 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 Jan 31, 2025 |
|---|
| Draw Date | Fri Jan 31, 2025 | | Projected Jackpot | $59,000,000 | | Cash Value | $26,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,500,000 | | Federal Tax(24%) | $6,360,000 | | Additional Federal Tax | $3,405,330 | | State Tax(7.65%) | $2,027,250 | | Net Lumpsum Payment | $14,707,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$888,009 |
$288,894
$67,933 |
$531,182 |
| 2 |
$932,436 |
$305,332
$71,331 |
$555,773 |
| 3 |
$979,046 |
$322,577
$74,897 |
$581,572 |
| 4 |
$1,028,016 |
$340,696
$78,643 |
$608,677 |
| 5 |
$1,079,405 |
$359,710
$82,574 |
$637,121 |
| 6 |
$1,133,390 |
$379,685
$86,704 |
$667,001 |
| 7 |
$1,190,030 |
$400,641
$91,037 |
$698,352 |
| 8 |
$1,249,561 |
$422,668
$95,591 |
$731,302 |
| 9 |
$1,312,042 |
$445,786
$100,371 |
$765,885 |
| 10 |
$1,377,650 |
$470,061
$105,390 |
$802,199 |
| 11 |
$1,446,503 |
$495,536
$110,657 |
$840,310 |
| 12 |
$1,518,837 |
$522,300
$116,191 |
$880,346 |
| 13 |
$1,594,770 |
$550,395
$122,000 |
$922,375 |
| 14 |
$1,674,538 |
$579,909
$128,102 |
$966,527 |
| 15 |
$1,758,259 |
$610,886
$134,507 |
$1,012,866 |
| 16 |
$1,846,169 |
$643,413
$141,232 |
$1,061,524 |
| 17 |
$1,938,445 |
$677,555
$148,291 |
$1,112,599 |
| 18 |
$2,035,382 |
$713,422
$155,707 |
$1,166,253 |
| 19 |
$2,137,157 |
$751,078
$163,493 |
$1,222,586 |
| 20 |
$2,244,006 |
$790,613
$171,666 |
$1,281,727 |
| 21 |
$2,356,224 |
$832,133
$180,251 |
$1,343,840 |
| 22 |
$2,474,047 |
$875,728
$189,265 |
$1,409,054 |
| 23 |
$2,597,711 |
$921,483
$198,725 |
$1,477,503 |
| 24 |
$2,727,629 |
$969,553
$208,664 |
$1,549,412 |
| 25 |
$2,863,978 |
$1,020,002
$219,094 |
$1,624,882 |
| 26 |
$3,007,230 |
$1,073,005
$230,053 |
$1,704,172 |
| 27 |
$3,157,562 |
$1,128,628
$241,553 |
$1,787,381 |
| 28 |
$3,315,446 |
$1,187,045
$253,632 |
$1,874,769 |
| 29 |
$3,481,236 |
$1,248,388
$266,315 |
$1,966,533 |
| 30 |
$3,655,286 |
$1,312,786
$279,629 |
$2,062,871 |
|
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