USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Nov 20, 1998

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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 $25,000,000 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, Nov 20, 1998
Jackpot:$25,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$376,286$102,075$21,825$252,386
2$395,100$108,660$22,916$263,525
3$414,855$115,574$24,062$275,220
4$435,598$122,834$25,265$287,499
5$457,378$130,457$26,528$300,393
6$480,247$138,461$27,854$313,931
7$504,259$146,865$29,247$328,147
8$529,472$155,690$30,709$343,073
9$555,946$164,956$32,245$358,745
10$583,743$174,685$33,857$375,201
11$612,930$184,972$35,550$392,408
12$643,577$196,311$37,327$409,938
13$675,755$208,217$39,194$428,344
14$709,543$220,719$41,154$447,671
15$745,020$233,845$43,211$467,964
16$782,271$247,628$45,372$489,271
17$821,385$262,100$47,640$511,644
18$862,454$277,296$50,022$535,136
19$905,577$293,251$52,523$559,802
20$950,856$310,004$55,150$585,702
21$998,398$327,595$57,907$612,896
22$1,048,318$346,066$60,802$641,450
23$1,100,734$365,459$63,843$671,432
24$1,155,771$385,823$67,035$702,913
25$1,213,560$407,205$70,386$735,968
26$1,274,238$429,656$73,906$770,676
27$1,337,949$453,229$77,601$807,119
28$1,404,847$477,981$81,481$845,385
29$1,475,089$503,971$85,555$885,563
30$1,548,844$531,260$89,833$927,751
Total$25,000,000$8,022,845$1,450,000$15,527,153

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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.