The jackpot for the MEGA Millions draw on Fri Nov 29, 2024, is projected to be $514 Million, with an option for a cash payout of $241 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 Nov 29, 2024 |
|---|
| Draw Date | Fri Nov 29, 2024 | | Projected Jackpot | $514,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(7.65%) | $18,436,500 | | Net Lumpsum Payment | $133,433,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$591,820 |
$4,321,664 |
| 2 |
$8,123,256 |
$2,965,935
$621,429 |
$4,535,892 |
| 3 |
$8,529,316 |
$3,116,177
$652,493 |
$4,760,646 |
| 4 |
$8,955,936 |
$3,274,027
$685,129 |
$4,996,780 |
| 5 |
$9,403,630 |
$3,439,673
$719,378 |
$5,244,579 |
| 6 |
$9,873,940 |
$3,613,688
$755,356 |
$5,504,896 |
| 7 |
$10,367,380 |
$3,796,261
$793,105 |
$5,778,014 |
| 8 |
$10,886,006 |
$3,988,153
$832,779 |
$6,065,074 |
| 9 |
$11,430,332 |
$4,189,553
$874,420 |
$6,366,359 |
| 10 |
$12,001,900 |
$4,401,033
$918,145 |
$6,682,722 |
| 11 |
$12,601,738 |
$4,622,973
$964,033 |
$7,014,732 |
| 12 |
$13,231,902 |
$4,856,134
$1,012,241 |
$7,363,527 |
| 13 |
$13,893,420 |
$5,100,896
$1,062,847 |
$7,729,677 |
| 14 |
$14,588,348 |
$5,358,019
$1,116,009 |
$8,114,320 |
| 15 |
$15,317,714 |
$5,627,885
$1,171,805 |
$8,518,024 |
| 16 |
$16,083,574 |
$5,911,253
$1,230,393 |
$8,941,928 |
| 17 |
$16,887,470 |
$6,208,694
$1,291,891 |
$9,386,885 |
| 18 |
$17,731,972 |
$6,521,160
$1,356,496 |
$9,854,316 |
| 19 |
$18,618,622 |
$6,849,221
$1,424,325 |
$10,345,076 |
| 20 |
$19,549,476 |
$7,193,637
$1,495,535 |
$10,860,304 |
| 21 |
$20,527,104 |
$7,555,359
$1,570,323 |
$11,401,422 |
| 22 |
$21,553,562 |
$7,935,148
$1,648,847 |
$11,969,567 |
| 23 |
$22,630,906 |
$8,333,766
$1,731,264 |
$12,565,876 |
| 24 |
$23,762,734 |
$8,752,542
$1,817,849 |
$13,192,343 |
| 25 |
$24,950,588 |
$9,192,048
$1,908,720 |
$13,849,820 |
| 26 |
$26,198,580 |
$9,653,805
$2,004,191 |
$14,540,584 |
| 27 |
$27,508,252 |
$10,138,384
$2,104,381 |
$15,265,487 |
| 28 |
$28,883,716 |
$10,647,305
$2,209,604 |
$16,026,807 |
| 29 |
$30,328,056 |
$11,181,711
$2,320,096 |
$16,826,249 |
| 30 |
$31,844,356 |
$11,742,742
$2,436,093 |
$17,665,521 |
|
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