The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(7.65%) | $7,030,350 | | Net Lumpsum Payment | $50,906,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$226,826 |
$1,680,823 |
| 2 |
$3,113,388 |
$1,112,284
$238,174 |
$1,762,930 |
| 3 |
$3,269,018 |
$1,169,867
$250,080 |
$1,849,071 |
| 4 |
$3,432,528 |
$1,230,366
$262,588 |
$1,939,574 |
| 5 |
$3,604,115 |
$1,293,853
$275,715 |
$2,034,547 |
| 6 |
$3,784,370 |
$1,360,547
$289,504 |
$2,134,319 |
| 7 |
$3,973,490 |
$1,430,522
$303,972 |
$2,238,996 |
| 8 |
$4,172,263 |
$1,504,068
$319,178 |
$2,349,017 |
| 9 |
$4,380,886 |
$1,581,258
$335,138 |
$2,464,490 |
| 10 |
$4,599,950 |
$1,662,312
$351,896 |
$2,585,742 |
| 11 |
$4,829,849 |
$1,747,375
$369,483 |
$2,712,991 |
| 12 |
$5,071,371 |
$1,836,738
$387,960 |
$2,846,673 |
| 13 |
$5,324,910 |
$1,930,547
$407,356 |
$2,987,007 |
| 14 |
$5,591,254 |
$2,029,094
$427,731 |
$3,134,429 |
| 15 |
$5,870,797 |
$2,132,525
$449,116 |
$3,289,156 |
| 16 |
$6,164,327 |
$2,241,131
$471,571 |
$3,451,625 |
| 17 |
$6,472,435 |
$2,355,131
$495,141 |
$3,622,163 |
| 18 |
$6,796,106 |
$2,474,890
$519,902 |
$3,801,314 |
| 19 |
$7,135,931 |
$2,600,625
$545,899 |
$3,989,407 |
| 20 |
$7,492,698 |
$2,732,629
$573,191 |
$4,186,878 |
| 21 |
$7,867,392 |
$2,871,265
$601,855 |
$4,394,272 |
| 22 |
$8,260,801 |
$3,016,827
$631,951 |
$4,612,023 |
| 23 |
$8,673,713 |
$3,169,604
$663,539 |
$4,840,570 |
| 24 |
$9,107,507 |
$3,330,108
$696,724 |
$5,080,675 |
| 25 |
$9,562,774 |
$3,498,557
$731,552 |
$5,332,665 |
| 26 |
$10,041,090 |
$3,675,534
$768,143 |
$5,597,413 |
| 27 |
$10,543,046 |
$3,861,257
$806,543 |
$5,875,246 |
| 28 |
$11,070,218 |
$4,056,311
$846,872 |
$6,167,035 |
| 29 |
$11,623,788 |
$4,261,132
$889,220 |
$6,473,436 |
| 30 |
$12,204,938 |
$4,476,157
$933,678 |
$6,795,103 |
|
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