USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Sep 29, 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 $24,000,000 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 29, 1998
Jackpot:$24,000,000
Federal Tax:37% marginal rate
State Tax: 5.695%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$361,234$96,807$20,572$243,855
2$379,296$103,128$21,601$254,567
3$398,261$109,766$22,681$265,814
4$418,174$116,736$23,815$277,623
5$439,083$124,054$25,006$290,023
6$461,037$131,738$26,256$303,043
7$484,089$139,806$27,569$316,714
8$508,293$148,277$28,947$331,068
9$533,708$157,172$30,395$346,141
10$560,393$166,512$31,914$361,966
11$588,413$176,319$33,510$378,583
12$617,833$186,786$35,186$395,862
13$648,725$198,216$36,945$413,564
14$681,161$210,217$38,792$432,152
15$715,219$222,819$40,732$451,669
16$750,980$236,051$42,768$472,162
17$788,529$249,944$44,907$493,679
18$827,956$264,531$47,152$516,272
19$869,354$279,849$49,510$539,995
20$912,821$295,932$51,985$564,905
21$958,463$312,819$54,584$591,059
22$1,006,386$330,550$57,314$618,522
23$1,056,705$349,169$60,179$647,357
24$1,109,540$368,718$63,188$677,634
25$1,165,017$389,244$66,348$709,425
26$1,223,268$410,797$69,665$742,806
27$1,284,431$433,427$73,148$777,856
28$1,348,653$457,189$76,806$814,658
29$1,416,086$482,139$80,646$853,300
30$1,486,890$508,337$84,678$893,875
Total$24,000,000$7,657,049$1,366,799$14,976,149

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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.