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Idaho Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 2023

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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 $640,000,000 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, Jul 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,522,368$558,709$5,551,842
2$10,114,564$3,700,577$586,645$5,827,343
3$10,620,292$3,887,696$615,977$6,116,620
4$11,151,308$4,084,172$646,776$6,420,360
5$11,708,872$4,290,471$679,115$6,739,287
6$12,294,316$4,507,085$713,070$7,074,161
7$12,909,032$4,734,530$748,724$7,425,779
8$13,554,484$4,973,347$786,160$7,794,977
9$14,232,208$5,224,105$825,468$8,182,635
10$14,943,818$5,487,400$866,741$8,589,676
11$15,691,009$5,763,861$910,079$9,017,070
12$16,475,560$6,054,145$955,582$9,465,832
13$17,299,338$6,358,943$1,003,362$9,937,033
14$18,164,305$6,678,980$1,053,530$10,431,795
15$19,072,520$7,015,020$1,106,206$10,951,294
16$20,026,146$7,367,862$1,161,516$11,496,768
17$21,027,453$7,738,345$1,219,592$12,069,515
18$22,078,826$8,127,353$1,280,572$12,670,900
19$23,182,767$8,535,811$1,344,600$13,302,355
20$24,341,905$8,964,693$1,411,831$13,965,382
21$25,559,000$9,415,018$1,482,422$14,661,560
22$26,836,950$9,887,859$1,556,543$15,392,548
23$28,178,798$10,384,343$1,634,370$16,160,085
24$29,587,738$10,905,651$1,716,089$16,965,998
25$31,067,124$11,453,024$1,801,893$17,812,207
26$32,620,481$12,027,766$1,891,988$18,700,728
27$34,251,505$12,631,245$1,986,587$19,633,673
28$35,964,080$13,264,897$2,085,917$20,613,266
29$37,762,284$13,930,233$2,190,212$21,641,839
30$39,650,399$14,628,835$2,299,723$22,721,840
Total$640,000,001$235,545,635$37,119,999$367,334,368

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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.