USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Sep 15, 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 $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:Tue, Sep 15, 1998
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 5.695%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$240,823$54,750$13,715$172,358
2$252,864$58,877$14,401$179,586
3$265,507$63,302$15,121$187,084
4$278,783$67,949$15,877$194,957
5$292,722$72,827$16,671$203,224
6$307,358$77,950$17,504$211,904
7$322,726$83,329$18,379$221,018
8$338,862$88,976$19,298$230,587
9$355,805$94,907$20,263$240,636
10$373,595$101,133$21,276$251,186
11$392,275$107,671$22,340$262,264
12$411,889$114,536$23,457$273,896
13$432,483$121,744$24,630$286,110
14$454,108$129,312$25,861$298,934
15$476,813$137,259$27,154$312,399
16$500,654$145,604$28,512$326,538
17$525,686$154,365$29,938$341,384
18$551,971$163,564$31,435$356,971
19$579,569$173,224$33,006$373,339
20$608,548$183,366$34,657$390,524
21$638,975$194,609$36,390$407,977
22$670,924$206,430$38,209$426,285
23$704,470$218,842$40,120$445,509
24$739,693$231,874$42,126$465,694
25$776,678$245,559$44,232$486,888
26$815,512$259,927$46,443$509,141
27$856,288$275,014$48,766$532,508
28$899,102$290,855$51,204$557,043
29$944,057$307,489$53,764$582,804
30$991,260$324,954$56,452$609,854
Total$16,000,000$4,750,198$911,201$10,338,602

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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.