USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Aug 8, 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 $1,602,000,000 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 8, 2023
Jackpot:$1,602,000,000
Federal Tax:37% marginal rate
State Tax: 5.8%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$24,112,399$8,879,775$1,398,519$13,834,104
2$25,318,019$9,325,855$1,468,445$14,523,719
3$26,583,920$9,794,238$1,541,867$15,247,814
4$27,913,117$10,286,041$1,618,961$16,008,115
5$29,308,771$10,802,433$1,699,909$16,806,429
6$30,774,210$11,344,646$1,784,904$17,644,660
7$32,312,922$11,913,969$1,874,149$18,524,803
8$33,928,567$12,511,758$1,967,857$19,448,953
9$35,624,996$13,139,436$2,066,250$20,419,310
10$37,406,245$13,798,498$2,169,562$21,438,184
11$39,276,558$14,490,514$2,278,040$22,508,003
12$41,240,385$15,217,130$2,391,942$23,631,313
13$43,302,404$15,980,077$2,511,539$24,810,788
14$45,467,525$16,781,172$2,637,116$26,049,237
15$47,740,901$17,622,321$2,768,972$27,349,608
16$50,127,947$18,505,528$2,907,421$28,714,998
17$52,634,343$19,432,895$3,052,792$30,148,656
18$55,266,060$20,406,630$3,205,431$31,653,999
19$58,029,363$21,429,052$3,365,703$33,234,608
20$60,930,832$22,502,595$3,533,988$34,894,248
21$63,977,373$23,629,816$3,710,688$36,636,869
22$67,176,241$24,813,397$3,896,222$38,466,622
23$70,535,054$26,056,158$4,091,033$40,387,863
24$74,061,806$27,361,056$4,295,585$42,405,165
25$77,764,896$28,731,199$4,510,364$44,523,333
26$81,653,142$30,169,850$4,735,882$46,747,410
27$85,735,799$31,680,433$4,972,676$49,082,689
28$90,022,588$33,266,545$5,221,310$51,534,732
29$94,523,718$34,931,963$5,482,376$54,109,379
30$99,249,904$36,680,652$5,756,494$56,812,758
Total$1,602,000,003$591,485,632$92,915,997$917,598,369

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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.