The jackpot for the MEGA Millions draw on Tue Sep 17, 2024, is projected to be $31 Million, with an option for a cash payout of $15.6 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 17, 2024 |
|---|
| Draw Date | Tue Sep 17, 2024 | | Projected Jackpot | $31,000,000 | | Cash Value | $15,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $15,600,000 | | Federal Tax(24%) | $3,744,000 | | Additional Federal Tax | $1,988,330 | | State Tax(7.65%) | $1,193,400 | | Net Lumpsum Payment | $8,674,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$466,581 |
$132,965
$35,693 |
$297,923 |
| 2 |
$489,924 |
$141,602
$37,479 |
$310,843 |
| 3 |
$514,414 |
$150,664
$39,353 |
$324,397 |
| 4 |
$540,144 |
$160,184
$41,321 |
$338,639 |
| 5 |
$567,145 |
$170,174
$43,387 |
$353,584 |
| 6 |
$595,510 |
$180,669
$45,557 |
$369,284 |
| 7 |
$625,270 |
$191,680
$47,833 |
$385,757 |
| 8 |
$656,549 |
$203,254
$50,226 |
$403,069 |
| 9 |
$689,378 |
$215,400
$52,737 |
$421,241 |
| 10 |
$723,850 |
$228,155
$55,375 |
$440,320 |
| 11 |
$760,027 |
$241,540
$58,142 |
$460,345 |
| 12 |
$798,033 |
$255,603
$61,050 |
$481,380 |
| 13 |
$837,930 |
$270,364
$64,102 |
$503,464 |
| 14 |
$879,842 |
$285,872
$67,308 |
$526,662 |
| 15 |
$923,831 |
$302,148
$70,673 |
$551,010 |
| 16 |
$970,021 |
$319,238
$74,207 |
$576,576 |
| 17 |
$1,018,505 |
$337,177
$77,916 |
$603,412 |
| 18 |
$1,069,438 |
$356,022
$81,812 |
$631,604 |
| 19 |
$1,122,913 |
$375,808
$85,903 |
$661,202 |
| 20 |
$1,179,054 |
$396,580
$90,198 |
$692,276 |
| 21 |
$1,238,016 |
$418,396
$94,708 |
$724,912 |
| 22 |
$1,299,923 |
$441,302
$99,444 |
$759,177 |
| 23 |
$1,364,899 |
$465,343
$104,415 |
$795,141 |
| 24 |
$1,433,161 |
$490,600
$109,637 |
$832,924 |
| 25 |
$1,504,802 |
$517,107
$115,117 |
$872,578 |
| 26 |
$1,580,070 |
$544,956
$120,875 |
$914,239 |
| 27 |
$1,659,058 |
$574,182
$126,918 |
$957,958 |
| 28 |
$1,742,014 |
$604,876
$133,264 |
$1,003,874 |
| 29 |
$1,829,124 |
$637,106
$139,928 |
$1,052,090 |
| 30 |
$1,920,574 |
$670,943
$146,924 |
$1,102,707 |
|
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