The jackpot for the MEGA Millions draw on Fri Jan 17, 2025, is projected to be $113 Million, with an option for a cash payout of $49.2 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 Jan 17, 2025 |
|---|
| Draw Date | Fri Jan 17, 2025 | | Projected Jackpot | $113,000,000 | | Cash Value | $49,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $49,200,000 | | Federal Tax(24%) | $11,808,000 | | Additional Federal Tax | $6,356,330 | | State Tax(7.65%) | $3,763,800 | | Net Lumpsum Payment | $27,271,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,700,763 |
$589,613
$130,108 |
$981,042 |
| 2 |
$1,785,852 |
$621,096
$136,618 |
$1,028,138 |
| 3 |
$1,875,122 |
$654,126
$143,447 |
$1,077,549 |
| 4 |
$1,968,912 |
$688,828
$150,622 |
$1,129,462 |
| 5 |
$2,067,335 |
$725,244
$158,151 |
$1,183,940 |
| 6 |
$2,170,730 |
$763,500
$166,061 |
$1,241,169 |
| 7 |
$2,279,210 |
$803,638
$174,360 |
$1,301,212 |
| 8 |
$2,393,227 |
$845,824
$183,082 |
$1,364,321 |
| 9 |
$2,512,894 |
$890,101
$192,236 |
$1,430,557 |
| 10 |
$2,638,550 |
$936,594
$201,849 |
$1,500,107 |
| 11 |
$2,770,421 |
$985,386
$211,937 |
$1,573,098 |
| 12 |
$2,908,959 |
$1,036,645
$222,535 |
$1,649,779 |
| 13 |
$3,054,390 |
$1,090,455
$233,661 |
$1,730,274 |
| 14 |
$3,207,166 |
$1,146,982
$245,348 |
$1,814,836 |
| 15 |
$3,367,513 |
$1,206,310
$257,615 |
$1,903,588 |
| 16 |
$3,535,883 |
$1,268,607
$270,495 |
$1,996,781 |
| 17 |
$3,712,615 |
$1,333,998
$284,015 |
$2,094,602 |
| 18 |
$3,898,274 |
$1,402,692
$298,218 |
$2,197,364 |
| 19 |
$4,093,199 |
$1,474,814
$313,130 |
$2,305,255 |
| 20 |
$4,297,842 |
$1,550,532
$328,785 |
$2,418,525 |
| 21 |
$4,512,768 |
$1,630,055
$345,227 |
$2,537,486 |
| 22 |
$4,738,429 |
$1,713,549
$362,490 |
$2,662,390 |
| 23 |
$4,975,277 |
$1,801,183
$380,609 |
$2,793,485 |
| 24 |
$5,224,103 |
$1,893,248
$399,644 |
$2,931,211 |
| 25 |
$5,485,246 |
$1,989,871
$419,621 |
$3,075,754 |
| 26 |
$5,759,610 |
$2,091,386
$440,610 |
$3,227,614 |
| 27 |
$6,047,534 |
$2,197,918
$462,636 |
$3,386,980 |
| 28 |
$6,349,922 |
$2,309,802
$485,769 |
$3,554,351 |
| 29 |
$6,667,452 |
$2,427,288
$510,060 |
$3,730,104 |
| 30 |
$7,000,802 |
$2,550,627
$535,561 |
$3,914,614 |
|
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