USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Aug 15, 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 $36,000,000 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, Aug 15, 2023
Jackpot:$36,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$541,852$160,023$31,427$350,401
2$568,944$169,505$32,999$366,440
3$597,391$179,462$34,649$383,281
4$627,261$190,274$36,381$400,606
5$658,624$201,879$38,200$418,545
6$691,555$214,063$40,110$437,382
7$726,133$226,857$42,116$457,160
8$762,440$240,290$44,222$477,928
9$800,562$254,396$46,433$499,734
10$840,590$269,206$48,754$522,630
11$882,619$284,757$51,192$546,670
12$926,750$301,085$53,752$571,913
13$973,088$318,230$56,439$598,418
14$1,021,742$336,232$59,261$626,249
15$1,072,829$355,135$62,224$655,471
16$1,126,471$374,982$65,335$686,153
17$1,182,794$395,822$68,602$718,371
18$1,241,934$417,703$72,032$752,198
19$1,304,031$440,679$75,634$787,718
20$1,369,232$464,804$79,415$825,013
21$1,437,694$490,134$83,386$864,173
22$1,509,578$516,732$87,556$905,291
23$1,585,057$544,659$91,933$948,465
24$1,664,310$573,983$96,530$993,798
25$1,747,526$604,772$101,356$1,041,397
26$1,834,902$637,102$106,424$1,091,376
27$1,926,647$671,047$111,746$1,143,854
28$2,022,980$706,690$117,333$1,198,957
29$2,124,128$744,115$123,199$1,256,814
30$2,230,335$783,412$129,359$1,317,564
Total$36,000,000$12,068,030$2,087,999$21,843,970

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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.