USA Mega

Idaho Mega Millions Jackpot Annuity Payout Schedule for Jun 21, 2024

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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 $80,000,000 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, Jun 21, 2024
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 5.695%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,204,115$403,710$68,574$731,830
2$1,264,321$425,986$72,003$766,331
3$1,327,537$449,376$75,603$802,557
4$1,393,913$473,936$79,383$840,594
5$1,463,609$499,723$83,353$880,533
6$1,536,790$526,800$87,520$922,469
7$1,613,629$555,230$91,896$966,502
8$1,694,310$585,083$96,491$1,012,737
9$1,779,026$616,427$101,316$1,061,283
10$1,867,977$649,339$106,381$1,112,257
11$1,961,376$683,897$111,700$1,165,779
12$2,059,445$720,182$117,285$1,221,977
13$2,162,417$758,282$123,150$1,280,985
14$2,270,538$798,287$129,307$1,342,944
15$2,384,065$840,292$135,772$1,408,001
16$2,503,268$884,397$142,561$1,476,310
17$2,628,432$930,707$149,689$1,548,035
18$2,759,853$979,333$157,174$1,623,346
19$2,897,846$1,030,391$165,032$1,702,423
20$3,042,738$1,084,001$173,284$1,785,453
21$3,194,875$1,140,292$181,948$1,872,635
22$3,354,619$1,199,397$191,046$1,964,177
23$3,522,350$1,261,457$200,598$2,060,295
24$3,698,467$1,326,621$210,628$2,161,219
25$3,883,391$1,395,042$221,159$2,267,189
26$4,077,560$1,466,885$232,217$2,378,458
27$4,281,438$1,542,320$243,828$2,495,290
28$4,495,510$1,621,526$256,019$2,617,964
29$4,720,286$1,704,693$268,820$2,746,772
30$4,956,300$1,792,019$282,261$2,882,020
Total$80,000,000$28,345,631$4,555,998$47,098,365

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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.