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Mega Millions Annuity Jackpot Analysis for Idaho (May. 25, 2018 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 $73,000,000 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:  May. 25, 2018
Jackpot:$73,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,098,755$263,701$76,089$758,965
2$1,153,693$276,886$79,893$796,913
3$1,211,377$290,731$83,888$836,759
4$1,271,946$305,267$88,082$878,597
5$1,335,543$320,530$92,486$922,526
6$1,402,320$336,557$97,111$968,653
7$1,472,436$353,385$101,966$1,017,086
8$1,546,058$371,054$107,065$1,067,940
9$1,623,361$389,607$112,418$1,121,337
10$1,704,529$409,087$118,039$1,177,404
11$1,789,756$429,541$123,941$1,236,274
12$1,879,244$451,018$130,138$1,298,087
13$1,973,206$473,569$136,644$1,362,992
14$2,071,866$497,248$143,477$1,431,141
15$2,175,459$522,110$150,651$1,502,698
16$2,284,232$548,216$158,183$1,577,833
17$2,398,444$575,627$166,092$1,656,725
18$2,518,366$604,408$174,397$1,739,561
19$2,644,284$634,628$183,117$1,826,539
20$2,776,499$666,360$192,273$1,917,866
21$2,915,323$699,678$201,886$2,013,760
22$3,061,090$734,662$211,980$2,114,448
23$3,214,144$771,395$222,579$2,220,170
24$3,374,851$809,964$233,708$2,331,179
25$3,543,594$850,463$245,394$2,447,737
26$3,720,774$892,986$257,664$2,570,124
27$3,906,812$937,635$270,547$2,698,631
28$4,102,153$984,517$284,074$2,833,562
29$4,307,261$1,033,743$298,278$2,975,240
30$4,522,624$1,085,430$313,192$3,124,002
Total$73,000,000$17,520,000$5,055,250$50,424,750
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