USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Aug 7, 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 $13,000,000 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 7, 1998
Jackpot:$13,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$195,669$40,300$11,349$144,019
2$205,452$43,431$11,916$150,105
3$215,725$46,718$12,512$156,494
4$226,511$50,170$13,138$163,203
5$237,836$53,794$13,795$170,248
6$249,728$57,780$14,484$177,464
7$262,215$62,150$15,208$184,856
8$275,325$66,739$15,969$192,618
9$289,092$71,557$16,767$200,768
10$303,546$76,616$17,606$209,325
11$318,724$81,928$18,486$218,310
12$334,660$87,506$19,410$227,744
13$351,393$93,362$20,381$237,650
14$368,962$99,512$21,400$248,051
15$387,411$105,968$22,470$258,972
16$406,781$112,748$23,593$270,440
17$427,120$119,867$24,773$282,480
18$448,476$127,341$26,012$295,123
19$470,900$135,190$27,312$308,398
20$494,445$143,430$28,678$322,337
21$519,167$152,083$30,112$336,972
22$545,126$161,169$31,617$352,340
23$572,382$170,708$33,198$368,475
24$601,001$180,725$34,858$385,418
25$631,051$191,677$36,601$402,773
26$662,604$203,351$38,431$420,821
27$695,734$215,609$40,353$439,772
28$730,520$228,480$42,370$459,670
29$767,046$241,995$44,489$480,563
30$805,399$256,185$46,713$502,500
Total$13,000,000$3,678,089$754,001$8,567,909

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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.