USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$48,887$523,940
2$885,024$285,647$51,331$548,046
3$929,276$302,020$53,898$573,358
4$975,739$319,211$56,593$599,935
5$1,024,526$337,262$59,423$627,841
6$1,075,753$356,216$62,394$657,143
7$1,129,540$376,118$65,513$687,909
8$1,186,017$397,014$68,789$720,214
9$1,245,318$418,955$72,228$754,134
10$1,307,584$441,994$75,840$789,750
11$1,372,963$466,184$79,632$827,147
12$1,441,611$491,584$83,613$866,414
13$1,513,692$518,254$87,794$907,644
14$1,589,377$546,257$92,184$950,936
15$1,668,845$575,661$96,793$996,392
16$1,752,288$606,534$101,633$1,044,121
17$1,839,902$638,952$106,714$1,094,236
18$1,931,897$672,990$112,050$1,146,857
19$2,028,492$708,730$117,653$1,202,110
20$2,129,917$746,257$123,535$1,260,125
21$2,236,413$785,660$129,712$1,321,040
22$2,348,233$827,034$136,198$1,385,002
23$2,465,645$870,476$143,007$1,452,161
24$2,588,927$916,091$150,158$1,522,679
25$2,718,373$963,986$157,666$1,596,722
26$2,854,292$1,014,276$165,549$1,674,467
27$2,997,007$1,067,080$173,826$1,756,100
28$3,146,857$1,122,525$182,518$1,841,814
29$3,304,200$1,180,742$191,644$1,931,815
30$3,469,410$1,241,869$201,226$2,026,315
Total$56,000,000$19,465,632$3,248,001$33,286,367

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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.