The jackpot for the MEGA Millions draw on Fri May 16, 2025, is projected to be $122 Million, with an option for a cash payout of $54.8 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 Fri May 16, 2025 |
|---|
| Draw Date | Fri May 16, 2025 | | Projected Jackpot | $122,000,000 | | Cash Value | $54,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,800,000 | | Federal Tax(24%) | $13,152,000 | | Additional Federal Tax | $7,084,330 | | State Tax(7.65%) | $4,192,200 | | Net Lumpsum Payment | $30,371,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,836,222 |
$639,733
$140,471 |
$1,056,018 |
| 2 |
$1,928,088 |
$673,723
$147,499 |
$1,106,866 |
| 3 |
$2,024,468 |
$709,384
$154,872 |
$1,160,212 |
| 4 |
$2,125,728 |
$746,850
$162,618 |
$1,216,260 |
| 5 |
$2,231,990 |
$786,167
$170,747 |
$1,275,076 |
| 6 |
$2,343,620 |
$827,470
$179,287 |
$1,336,863 |
| 7 |
$2,460,740 |
$870,804
$188,247 |
$1,401,689 |
| 8 |
$2,583,838 |
$916,350
$197,664 |
$1,469,824 |
| 9 |
$2,713,036 |
$964,154
$207,547 |
$1,541,335 |
| 10 |
$2,848,700 |
$1,014,349
$217,926 |
$1,616,425 |
| 11 |
$2,991,074 |
$1,067,028
$228,817 |
$1,695,229 |
| 12 |
$3,140,646 |
$1,122,369
$240,259 |
$1,778,018 |
| 13 |
$3,297,660 |
$1,180,465
$252,271 |
$1,864,924 |
| 14 |
$3,462,604 |
$1,241,494
$264,889 |
$1,956,221 |
| 15 |
$3,635,722 |
$1,305,548
$278,133 |
$2,052,041 |
| 16 |
$3,817,502 |
$1,372,806
$292,039 |
$2,152,657 |
| 17 |
$4,008,310 |
$1,443,405
$306,636 |
$2,258,269 |
| 18 |
$4,208,756 |
$1,517,570
$321,970 |
$2,369,216 |
| 19 |
$4,419,206 |
$1,595,437
$338,069 |
$2,485,700 |
| 20 |
$4,640,148 |
$1,677,185
$354,971 |
$2,607,992 |
| 21 |
$4,872,192 |
$1,763,041
$372,723 |
$2,736,428 |
| 22 |
$5,115,826 |
$1,853,186
$391,361 |
$2,871,279 |
| 23 |
$5,371,538 |
$1,947,799
$410,923 |
$3,012,816 |
| 24 |
$5,640,182 |
$2,047,198
$431,474 |
$3,161,510 |
| 25 |
$5,922,124 |
$2,151,516
$453,042 |
$3,317,566 |
| 26 |
$6,218,340 |
$2,261,116
$475,703 |
$3,481,521 |
| 27 |
$6,529,196 |
$2,376,133
$499,483 |
$3,653,580 |
| 28 |
$6,855,668 |
$2,496,928
$524,459 |
$3,834,281 |
| 29 |
$7,198,488 |
$2,623,771
$550,684 |
$4,024,033 |
| 30 |
$7,558,388 |
$2,756,934
$578,217 |
$4,223,237 |
|
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