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Mega Millions Annuity Jackpot Analysis for Idaho

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $192,000,000 would be for a resident of Idaho, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Idaho

Drawing Date:  Tue, Apr 23, 2019
Jackpot:$192,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,889,876$693,570$200,124$1,996,182
2$3,034,369$728,249$210,130$2,095,991
3$3,186,088$764,661$220,637$2,200,790
4$3,345,392$802,894$231,668$2,310,830
5$3,512,662$843,039$243,252$2,426,371
6$3,688,295$885,191$255,414$2,547,690
7$3,872,710$929,450$268,185$2,675,074
8$4,066,345$975,923$281,594$2,808,828
9$4,269,662$1,024,719$295,674$2,949,269
10$4,483,145$1,075,955$310,458$3,096,733
11$4,707,303$1,129,753$325,981$3,251,569
12$4,942,668$1,186,240$342,280$3,414,148
13$5,189,801$1,245,552$359,394$3,584,855
14$5,449,291$1,307,830$377,363$3,764,098
15$5,721,756$1,373,221$396,232$3,952,303
16$6,007,844$1,441,883$416,043$4,149,918
17$6,308,236$1,513,977$436,845$4,357,414
18$6,623,648$1,589,675$458,688$4,575,285
19$6,954,830$1,669,159$481,622$4,804,049
20$7,302,572$1,752,617$505,703$5,044,251
21$7,667,700$1,840,248$530,988$5,296,464
22$8,051,085$1,932,260$557,538$5,561,287
23$8,453,639$2,028,873$585,415$5,839,351
24$8,876,321$2,130,317$614,685$6,131,319
25$9,320,137$2,236,833$645,420$6,437,885
26$9,786,144$2,348,675$677,690$6,759,779
27$10,275,452$2,466,108$711,575$7,097,768
28$10,789,224$2,589,414$747,154$7,452,656
29$11,328,685$2,718,884$784,511$7,825,289
30$11,895,120$2,854,829$823,737$8,216,554
Total$192,000,000$46,080,000$13,296,000$132,624,000
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