The jackpot for the Powerball draw on Sat May 18, 2024, is projected to be $77 Million, with an option for a cash payout of $36 Million. Should you be the lucky winner of the Powerball 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 Powerball Jackpot/Cash Option for Sat May 18, 2024 |
|---|
| Draw Date | Sat May 18, 2024 | | Projected Jackpot | $77,000,000 | | Cash Value | $36,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,000,000 | | Federal Tax(24%) | $8,640,000 | | Additional Federal Tax | $4,640,330 | | State Tax(7.65%) | $2,754,000 | | Net Lumpsum Payment | $19,965,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,158,927 |
$389,133
$88,658 |
$681,136 |
| 2 |
$1,216,908 |
$410,586
$93,093 |
$713,229 |
| 3 |
$1,277,738 |
$433,093
$97,747 |
$746,898 |
| 4 |
$1,341,648 |
$456,740
$102,636 |
$782,272 |
| 5 |
$1,408,715 |
$481,555
$107,767 |
$819,393 |
| 6 |
$1,479,170 |
$507,623
$113,157 |
$858,390 |
| 7 |
$1,553,090 |
$534,974
$118,811 |
$899,305 |
| 8 |
$1,630,783 |
$563,720
$124,755 |
$942,308 |
| 9 |
$1,712,326 |
$593,891
$130,993 |
$987,442 |
| 10 |
$1,797,950 |
$625,572
$137,543 |
$1,034,835 |
| 11 |
$1,887,809 |
$658,820
$144,417 |
$1,084,572 |
| 12 |
$1,982,211 |
$693,748
$151,639 |
$1,136,824 |
| 13 |
$2,081,310 |
$730,415
$159,220 |
$1,191,675 |
| 14 |
$2,185,414 |
$768,934
$167,184 |
$1,249,296 |
| 15 |
$2,294,677 |
$809,361
$175,543 |
$1,309,773 |
| 16 |
$2,409,407 |
$851,811
$184,320 |
$1,373,276 |
| 17 |
$2,529,835 |
$896,369
$193,532 |
$1,439,934 |
| 18 |
$2,656,346 |
$943,178
$203,210 |
$1,509,958 |
| 19 |
$2,789,171 |
$992,324
$213,372 |
$1,583,475 |
| 20 |
$2,928,618 |
$1,043,919
$224,039 |
$1,660,660 |
| 21 |
$3,075,072 |
$1,098,107
$235,243 |
$1,741,722 |
| 22 |
$3,228,841 |
$1,155,002
$247,006 |
$1,826,833 |
| 23 |
$3,390,233 |
$1,214,717
$259,353 |
$1,916,163 |
| 24 |
$3,559,787 |
$1,277,452
$272,324 |
$2,010,011 |
| 25 |
$3,737,734 |
$1,343,292
$285,937 |
$2,108,505 |
| 26 |
$3,924,690 |
$1,412,466
$300,239 |
$2,211,985 |
| 27 |
$4,120,886 |
$1,485,058
$315,248 |
$2,320,580 |
| 28 |
$4,326,938 |
$1,561,297
$331,011 |
$2,434,630 |
| 29 |
$4,543,308 |
$1,641,354
$347,563 |
$2,554,391 |
| 30 |
$4,770,458 |
$1,725,400
$364,940 |
$2,680,118 |
|
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