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Mega Millions Annuity Jackpot Analysis for Idaho (Aug. 4, 2017 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 $323,000,000 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:  Aug. 4, 2017
Jackpot:$323,000,000
Federal Tax:  24%
State Tax:6.93%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,861,614$1,166,787$336,667$3,358,160
2$5,104,694$1,225,127$353,500$3,526,068
3$5,359,929$1,286,383$371,175$3,702,371
4$5,627,926$1,350,702$389,734$3,887,490
5$5,909,321$1,418,237$409,221$4,081,864
6$6,204,788$1,489,149$429,682$4,285,957
7$6,515,027$1,563,607$451,166$4,500,255
8$6,840,779$1,641,787$473,724$4,725,268
9$7,182,817$1,723,876$497,410$4,961,531
10$7,541,958$1,810,070$522,281$5,209,608
11$7,919,056$1,900,573$548,395$5,470,088
12$8,315,009$1,995,602$575,814$5,743,592
13$8,730,759$2,095,382$604,605$6,030,772
14$9,167,297$2,200,151$634,835$6,332,311
15$9,625,662$2,310,159$666,577$6,648,926
16$10,106,946$2,425,667$699,906$6,981,373
17$10,612,293$2,546,950$734,901$7,330,441
18$11,142,907$2,674,298$771,646$7,696,963
19$11,700,053$2,808,013$810,229$8,081,811
20$12,285,055$2,948,413$850,740$8,485,902
21$12,899,308$3,095,834$893,277$8,910,197
22$13,544,273$3,250,626$937,941$9,355,707
23$14,221,487$3,413,157$984,838$9,823,492
24$14,932,561$3,583,815$1,034,080$10,314,667
25$15,679,189$3,763,005$1,085,784$10,830,400
26$16,463,149$3,951,156$1,140,073$11,371,920
27$17,286,307$4,148,714$1,197,077$11,940,516
28$18,150,622$4,356,149$1,256,931$12,537,542
29$19,058,153$4,573,957$1,319,777$13,164,419
30$20,011,061$4,802,655$1,385,766$13,822,640
Total$323,000,001$77,520,000$22,367,750$223,112,250
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