USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Aug 28, 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 $7,000,000 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, Aug 28, 1998
Jackpot:$7,000,000
Federal Tax:37% marginal rate
State Tax: 5.695%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$105,360$18,329$6,000$81,031
2$110,628$19,593$6,300$84,735
3$116,159$20,921$6,615$88,623
4$121,967$22,315$6,946$92,707
5$128,066$23,778$7,293$96,994
6$134,469$25,315$7,658$101,496
7$141,193$26,929$8,041$106,223
8$148,252$28,623$8,443$111,186
9$155,665$30,402$8,865$116,398
10$163,448$32,270$9,308$121,870
11$171,620$34,231$9,774$127,615
12$180,201$36,291$10,262$133,648
13$189,212$38,453$10,776$139,983
14$198,672$41,262$11,314$146,096
15$208,606$44,440$11,880$152,285
16$219,036$47,778$12,474$158,784
17$229,988$51,283$13,098$165,607
18$241,487$54,962$13,753$172,772
19$253,562$59,121$14,440$180,000
20$266,240$63,559$15,162$187,519
21$279,552$68,218$15,920$195,413
22$293,529$73,110$16,716$203,703
23$308,206$78,247$17,552$212,407
24$323,616$83,640$18,430$221,546
25$339,797$89,304$19,351$231,142
26$356,787$95,250$20,319$241,217
27$374,626$101,494$21,335$251,797
28$393,357$108,050$22,402$262,906
29$413,025$114,933$23,522$274,570
30$433,676$122,161$24,698$286,817
Total$7,000,000$1,654,262$398,647$4,947,090

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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.