USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $31,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

Idaho

Drawing Date:Tue, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$27,062$302,471
2$489,924$145,226$28,416$316,282
3$514,420$153,800$29,836$330,784
4$540,141$162,807$31,328$346,006
5$567,149$172,800$32,895$361,454
6$595,506$183,292$34,539$377,674
7$625,281$194,309$36,266$394,706
8$656,545$205,877$38,080$412,589
9$689,373$218,023$39,984$431,366
10$723,841$230,776$41,983$451,082
11$760,033$244,167$44,082$471,784
12$798,035$258,228$46,286$493,521
13$837,937$272,992$48,600$516,345
14$879,834$288,493$51,030$540,310
15$923,825$304,770$53,582$565,473
16$970,016$321,861$56,261$591,894
17$1,018,517$339,806$59,074$619,637
18$1,069,443$358,649$62,028$648,766
19$1,122,915$378,434$65,129$679,353
20$1,179,061$399,208$68,386$711,468
21$1,238,014$421,020$71,805$745,189
22$1,299,915$443,923$75,395$780,596
23$1,364,911$467,972$79,165$817,774
24$1,433,156$493,223$83,123$856,810
25$1,504,814$519,736$87,279$897,799
26$1,580,055$547,575$91,643$940,836
27$1,659,057$576,806$96,225$986,026
28$1,742,010$607,499$101,037$1,033,475
29$1,829,111$639,726$106,088$1,083,296
30$1,920,566$673,564$111,393$1,135,609
Total$31,000,000$10,361,623$1,798,000$18,840,375

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.