USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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 prize money, as well as deductions claimed.

State:

Idaho

Drawing Date:Tue, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 6.925%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$20,846$200,278
2$316,080$85,172$21,889$209,019
3$331,884$90,704$22,983$218,197
4$348,478$96,512$24,132$227,835
5$365,902$102,610$25,339$237,953
6$384,197$109,013$26,606$248,578
7$403,407$115,737$27,936$259,735
8$423,578$122,796$29,333$271,448
9$444,757$130,209$30,799$283,748
10$466,994$137,992$32,339$296,663
11$490,344$146,165$33,956$310,223
12$514,861$154,746$35,654$324,461
13$540,604$164,096$37,437$339,072
14$567,635$174,097$39,309$354,229
15$596,016$184,598$41,274$370,144
16$625,817$195,625$43,338$386,855
17$657,108$207,202$45,505$404,401
18$689,963$219,359$47,780$422,825
19$724,461$232,123$50,169$442,170
20$760,685$245,526$52,677$462,482
21$798,719$259,598$55,311$483,809
22$838,655$274,374$58,077$506,203
23$880,587$289,890$60,981$529,717
24$924,617$306,180$64,030$554,407
25$970,848$323,286$67,231$580,331
26$1,019,390$341,247$70,593$607,551
27$1,070,360$360,105$74,122$636,132
28$1,123,878$379,907$77,829$666,142
29$1,180,071$400,699$81,720$697,653
30$1,239,075$422,530$85,806$730,739
Total$20,000,000$6,352,002$1,385,001$12,263,000

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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.