USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Dec 5, 1997

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The tax information provided here is based on 2024 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 $8,000,000 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 money, as well as deductions claimed.

State:

Idaho

Drawing Date:Fri, Dec 5, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,941$6,984$91,486
2$126,432$23,386$7,333$95,713
3$132,754$24,903$7,700$100,151
4$139,391$26,496$8,085$104,810
5$146,361$28,169$8,489$109,703
6$153,679$29,925$8,913$114,840
7$161,363$31,770$9,359$120,234
8$169,431$33,706$9,827$125,898
9$177,903$35,739$10,318$131,845
10$186,798$37,874$10,834$138,090
11$196,138$40,451$11,376$144,311
12$205,944$43,589$11,945$150,411
13$216,242$46,884$12,542$156,816
14$227,054$50,344$13,169$163,541
15$238,406$53,977$13,828$170,602
16$250,327$57,989$14,519$177,819
17$262,843$62,370$15,245$185,228
18$275,985$66,970$16,007$193,009
19$289,785$71,799$16,808$201,178
20$304,274$76,871$17,648$209,755
21$319,488$82,195$18,530$218,762
22$335,462$87,786$19,457$228,219
23$352,235$93,657$20,430$238,148
24$369,847$99,821$21,451$248,575
25$388,339$106,293$22,524$259,522
26$407,756$113,089$23,650$271,017
27$428,144$120,225$24,832$283,086
28$449,551$127,718$26,074$295,759
29$472,029$135,585$27,378$309,066
30$495,630$143,845$28,747$323,038
Total$8,000,000$1,975,367$464,002$5,560,632

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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.