The jackpot for the MEGA Millions draw on Fri Feb 7, 2025, is projected to be $94 Million, with an option for a cash payout of $42.3 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 Feb 7, 2025 |
|---|
| Draw Date | Fri Feb 7, 2025 | | Projected Jackpot | $94,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(7.65%) | $3,235,950 | | Net Lumpsum Payment | $23,452,720 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,414,794 |
$483,804
$108,232 |
$822,758 |
| 2 |
$1,485,576 |
$509,994
$113,647 |
$861,935 |
| 3 |
$1,559,836 |
$537,470
$119,327 |
$903,039 |
| 4 |
$1,637,856 |
$566,337
$125,296 |
$946,223 |
| 5 |
$1,719,730 |
$596,630
$131,559 |
$991,541 |
| 6 |
$1,805,740 |
$628,454
$138,139 |
$1,039,147 |
| 7 |
$1,895,980 |
$661,843
$145,042 |
$1,089,095 |
| 8 |
$1,990,826 |
$696,936
$152,298 |
$1,141,592 |
| 9 |
$2,090,372 |
$733,768
$159,913 |
$1,196,691 |
| 10 |
$2,194,900 |
$772,443
$167,910 |
$1,254,547 |
| 11 |
$2,304,598 |
$813,032
$176,302 |
$1,315,264 |
| 12 |
$2,419,842 |
$855,672
$185,118 |
$1,379,052 |
| 13 |
$2,540,820 |
$900,434
$194,373 |
$1,446,013 |
| 14 |
$2,667,908 |
$947,456
$204,095 |
$1,516,357 |
| 15 |
$2,801,294 |
$996,809
$214,299 |
$1,590,186 |
| 16 |
$2,941,354 |
$1,048,631
$225,014 |
$1,667,709 |
| 17 |
$3,088,370 |
$1,103,027
$236,260 |
$1,749,083 |
| 18 |
$3,242,812 |
$1,160,171
$248,075 |
$1,834,566 |
| 19 |
$3,404,962 |
$1,220,166
$260,480 |
$1,924,316 |
| 20 |
$3,575,196 |
$1,283,153
$273,502 |
$2,018,541 |
| 21 |
$3,753,984 |
$1,349,304
$287,180 |
$2,117,500 |
| 22 |
$3,941,702 |
$1,418,760
$301,540 |
$2,221,402 |
| 23 |
$4,138,726 |
$1,491,659
$316,613 |
$2,330,454 |
| 24 |
$4,345,714 |
$1,568,245
$332,447 |
$2,445,022 |
| 25 |
$4,562,948 |
$1,648,621
$349,066 |
$2,565,261 |
| 26 |
$4,791,180 |
$1,733,067
$366,525 |
$2,691,588 |
| 27 |
$5,030,692 |
$1,821,686
$384,848 |
$2,824,158 |
| 28 |
$5,282,236 |
$1,914,758
$404,091 |
$2,963,387 |
| 29 |
$5,546,376 |
$2,012,490
$424,298 |
$3,109,588 |
| 30 |
$5,823,676 |
$2,115,091
$445,511 |
$3,263,074 |
|
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