USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Aug 11, 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 $15,000,000 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:Tue, Aug 11, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$13,095$162,743
2$237,060$53,546$13,749$169,765
3$248,913$57,494$14,437$176,982
4$261,359$61,850$15,159$184,350
5$274,427$66,424$15,917$192,086
6$288,148$71,227$16,713$200,209
7$302,555$76,269$17,548$208,738
8$317,683$81,564$18,426$217,694
9$333,567$87,123$19,347$227,097
10$350,246$92,961$20,314$236,971
11$367,758$99,090$21,330$247,338
12$386,146$105,526$22,396$258,224
13$405,453$112,283$23,516$269,654
14$425,726$119,379$24,692$281,655
15$447,012$126,829$25,927$294,256
16$469,363$134,652$27,223$307,488
17$492,831$142,866$28,584$321,381
18$517,472$151,490$30,013$335,969
19$543,346$160,546$31,514$351,286
20$570,513$170,054$33,090$367,369
21$599,039$180,038$34,744$384,256
22$628,991$190,914$36,481$401,595
23$660,441$202,551$38,306$419,584
24$693,463$214,769$40,221$438,473
25$728,136$227,598$42,232$458,306
26$764,543$241,068$44,343$479,131
27$802,770$255,213$46,561$500,996
28$842,908$270,064$48,889$523,956
29$885,054$285,658$51,333$548,063
30$929,306$302,031$53,900$573,375
Total$15,000,000$4,391,010$870,000$9,738,990

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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.