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Mega Millions Annuity Jackpot Analysis for Idaho (Apr. 3, 2020 Drawing)

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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 $121,000,000 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:  Apr. 3, 2020
Jackpot:$121,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,821,224$437,094$126,120$1,258,010
2$1,912,285$458,948$132,426$1,320,911
3$2,007,899$481,896$139,047$1,386,956
4$2,108,294$505,991$145,999$1,456,304
5$2,213,709$531,290$153,299$1,529,119
6$2,324,394$557,855$160,964$1,605,575
7$2,440,614$585,747$169,013$1,685,854
8$2,562,645$615,035$177,463$1,770,147
9$2,690,777$645,786$186,336$1,858,654
10$2,825,316$678,076$195,653$1,951,587
11$2,966,581$711,980$205,436$2,049,166
12$3,114,911$747,579$215,708$2,151,624
13$3,270,656$784,957$226,493$2,259,206
14$3,434,189$824,205$237,818$2,372,166
15$3,605,898$865,416$249,708$2,490,774
16$3,786,193$908,686$262,194$2,615,313
17$3,975,503$954,121$275,304$2,746,079
18$4,174,278$1,001,827$289,069$2,883,383
19$4,382,992$1,051,918$303,522$3,027,552
20$4,602,141$1,104,514$318,698$3,178,929
21$4,832,248$1,159,740$334,633$3,337,876
22$5,073,861$1,217,727$351,365$3,504,769
23$5,327,554$1,278,613$368,933$3,680,008
24$5,593,932$1,342,544$387,380$3,864,008
25$5,873,628$1,409,671$406,749$4,057,209
26$6,167,310$1,480,154$427,086$4,260,069
27$6,475,675$1,554,162$448,441$4,473,073
28$6,799,459$1,631,870$470,863$4,696,726
29$7,139,432$1,713,464$494,406$4,931,563
30$7,496,404$1,799,137$519,126$5,178,141
Total$121,000,000$29,040,000$8,379,250$83,580,750
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