The jackpot for the Powerball draw on Sat Nov 16, 2024, is projected to be $130 Million, with an option for a cash payout of $61.4 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 Nov 16, 2024 |
|---|
| Draw Date | Sat Nov 16, 2024 | | Projected Jackpot | $130,000,000 | | Cash Value | $61,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $61,400,000 | | Federal Tax(24%) | $14,736,000 | | Additional Federal Tax | $7,942,330 | | State Tax(7.65%) | $4,697,100 | | Net Lumpsum Payment | $34,024,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,956,630 |
$684,283
$149,682 |
$1,122,665 |
| 2 |
$2,054,520 |
$720,503
$157,171 |
$1,176,846 |
| 3 |
$2,157,220 |
$758,502
$165,027 |
$1,233,691 |
| 4 |
$2,265,120 |
$798,425
$173,282 |
$1,293,413 |
| 5 |
$2,378,350 |
$840,320
$181,944 |
$1,356,086 |
| 6 |
$2,497,300 |
$884,331
$191,043 |
$1,421,926 |
| 7 |
$2,622,100 |
$930,507
$200,591 |
$1,491,002 |
| 8 |
$2,753,270 |
$979,040
$210,625 |
$1,563,605 |
| 9 |
$2,890,940 |
$1,029,978
$221,157 |
$1,639,805 |
| 10 |
$3,035,500 |
$1,083,465
$232,216 |
$1,719,819 |
| 11 |
$3,187,210 |
$1,139,598
$243,822 |
$1,803,790 |
| 12 |
$3,346,590 |
$1,198,569
$256,014 |
$1,892,007 |
| 13 |
$3,513,900 |
$1,260,473
$268,813 |
$1,984,614 |
| 14 |
$3,689,660 |
$1,325,505
$282,259 |
$2,081,896 |
| 15 |
$3,874,130 |
$1,393,758
$296,371 |
$2,184,001 |
| 16 |
$4,067,830 |
$1,465,427
$311,189 |
$2,291,214 |
| 17 |
$4,271,150 |
$1,540,656
$326,743 |
$2,403,751 |
| 18 |
$4,484,740 |
$1,619,684
$343,083 |
$2,521,973 |
| 19 |
$4,708,990 |
$1,702,657
$360,238 |
$2,646,095 |
| 20 |
$4,944,420 |
$1,789,766
$378,248 |
$2,776,406 |
| 21 |
$5,191,680 |
$1,881,252
$397,164 |
$2,913,264 |
| 22 |
$5,451,290 |
$1,977,308
$417,024 |
$3,056,958 |
| 23 |
$5,723,770 |
$2,078,125
$437,868 |
$3,207,777 |
| 24 |
$6,010,030 |
$2,184,041
$459,767 |
$3,366,222 |
| 25 |
$6,310,460 |
$2,295,201
$482,750 |
$3,532,509 |
| 26 |
$6,626,100 |
$2,411,987
$506,897 |
$3,707,216 |
| 27 |
$6,957,340 |
$2,534,546
$532,237 |
$3,890,557 |
| 28 |
$7,305,220 |
$2,663,262
$558,849 |
$4,083,109 |
| 29 |
$7,670,520 |
$2,798,423
$586,795 |
$4,285,302 |
| 30 |
$8,054,020 |
$2,940,318
$616,133 |
$4,497,569 |
|
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