USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 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 $16,000,000 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, Jun 13, 1997
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$13,968$172,105
2$252,864$58,877$14,666$179,321
3$265,507$63,302$15,399$186,806
4$278,783$67,949$16,169$194,665
5$292,722$72,827$16,978$202,917
6$307,358$77,950$17,827$211,581
7$322,726$83,329$18,718$220,679
8$338,862$88,976$19,654$230,232
9$355,805$94,907$20,637$240,262
10$373,595$101,133$21,669$250,794
11$392,275$107,671$22,752$261,852
12$411,889$114,536$23,890$273,464
13$432,483$121,744$25,084$285,655
14$454,108$129,312$26,338$298,457
15$476,813$137,259$27,655$311,899
16$500,654$145,604$29,038$326,012
17$525,686$154,365$30,490$340,832
18$551,971$163,564$32,014$356,392
19$579,569$173,224$33,615$372,730
20$608,548$183,366$35,296$389,885
21$638,975$194,609$37,061$407,306
22$670,924$206,430$38,914$425,581
23$704,470$218,842$40,859$444,769
24$739,693$231,874$42,902$464,917
25$776,678$245,559$45,047$486,072
26$815,512$259,927$47,300$508,285
27$856,288$275,014$49,665$531,609
28$899,102$290,855$52,148$556,099
29$944,057$307,489$54,755$581,813
30$991,260$324,954$57,493$608,813
Total$16,000,000$4,750,198$928,001$10,321,804

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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.