The jackpot for the MEGA Millions draw on Tue Jun 4, 2024, is projected to be $560 Million, with an option for a cash payout of $258.4 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 Tue Jun 4, 2024 |
|---|
| Draw Date | Tue Jun 4, 2024 | | Projected Jackpot | $560,000,000 | | Cash Value | $258,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $258,400,000 | | Federal Tax(24%) | $62,016,000 | | Additional Federal Tax | $33,552,330 | | State Tax(7.65%) | $19,767,600 | | Net Lumpsum Payment | $143,064,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,428,560 |
$3,078,898
$644,785 |
$4,704,877 |
| 2 |
$8,850,240 |
$3,234,919
$677,043 |
$4,938,278 |
| 3 |
$9,292,640 |
$3,398,607
$710,887 |
$5,183,146 |
| 4 |
$9,757,440 |
$3,570,583
$746,444 |
$5,440,413 |
| 5 |
$10,245,200 |
$3,751,054
$783,758 |
$5,710,388 |
| 6 |
$10,757,600 |
$3,940,642
$822,956 |
$5,994,002 |
| 7 |
$11,295,200 |
$4,139,554
$864,083 |
$6,291,563 |
| 8 |
$11,860,240 |
$4,348,619
$907,308 |
$6,604,313 |
| 9 |
$12,453,280 |
$4,568,044
$952,676 |
$6,932,560 |
| 10 |
$13,076,000 |
$4,798,450
$1,000,314 |
$7,277,236 |
| 11 |
$13,729,520 |
$5,040,253
$1,050,308 |
$7,638,959 |
| 12 |
$14,416,080 |
$5,294,280
$1,102,830 |
$8,018,970 |
| 13 |
$15,136,800 |
$5,560,946
$1,157,965 |
$8,417,889 |
| 14 |
$15,893,920 |
$5,841,081
$1,215,885 |
$8,836,954 |
| 15 |
$16,688,560 |
$6,135,098
$1,276,675 |
$9,276,787 |
| 16 |
$17,522,960 |
$6,443,826
$1,340,506 |
$9,738,628 |
| 17 |
$18,398,800 |
$6,767,886
$1,407,508 |
$10,223,406 |
| 18 |
$19,318,880 |
$7,108,316
$1,477,894 |
$10,732,670 |
| 19 |
$20,284,880 |
$7,465,736
$1,551,793 |
$11,267,351 |
| 20 |
$21,299,040 |
$7,840,975
$1,629,377 |
$11,828,688 |
| 21 |
$22,364,160 |
$8,235,070
$1,710,858 |
$12,418,232 |
| 22 |
$23,482,480 |
$8,648,848
$1,796,410 |
$13,037,222 |
| 23 |
$24,656,240 |
$9,083,139
$1,886,202 |
$13,686,899 |
| 24 |
$25,889,360 |
$9,539,394
$1,980,536 |
$14,369,430 |
| 25 |
$27,183,520 |
$10,018,233
$2,079,539 |
$15,085,748 |
| 26 |
$28,543,200 |
$10,521,314
$2,183,555 |
$15,838,331 |
| 27 |
$29,970,080 |
$11,049,260
$2,292,711 |
$16,628,109 |
| 28 |
$31,468,640 |
$11,603,727
$2,407,351 |
$17,457,562 |
| 29 |
$33,042,240 |
$12,185,959
$2,527,731 |
$18,328,550 |
| 30 |
$34,694,240 |
$12,797,199
$2,654,109 |
$19,242,932 |
|
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