Idaho Lottery

IDLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 10, 2025 is estimated to be $77 Million, with a cash option of 34.1 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Idaho, your state will take 5.8% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Idaho MEGA Millions Jackpot/Cash Option for Fri Jan 10, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 10, 2025	$77,000,000	$34,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,100,000
Federal Tax(24%)	$8,184,000
Additional Federal Tax	$4,393,330
State Tax(5.8%)	$1,977,800
Net Lumpsum Payment	$19,544,870

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$67,218	$702,576
2	$1,216,908	-$410,586 -$70,581	$735,741
3	$1,277,738	-$433,093 -$74,109	$770,536
4	$1,341,648	-$456,740 -$77,816	$807,092
5	$1,408,715	-$481,555 -$81,705	$845,455
6	$1,479,170	-$507,623 -$85,792	$885,755
7	$1,553,090	-$534,974 -$90,079	$928,037
8	$1,630,783	-$563,720 -$94,585	$972,478
9	$1,712,326	-$593,891 -$99,315	$1,019,120
10	$1,797,950	-$625,572 -$104,281	$1,068,097
11	$1,887,809	-$658,820 -$109,493	$1,119,496
12	$1,982,211	-$693,748 -$114,968	$1,173,495
13	$2,081,310	-$730,415 -$120,716	$1,230,179
14	$2,185,414	-$768,934 -$126,754	$1,289,726
15	$2,294,677	-$809,361 -$133,091	$1,352,225
16	$2,409,407	-$851,811 -$139,746	$1,417,850
17	$2,529,835	-$896,369 -$146,730	$1,486,736
18	$2,656,346	-$943,178 -$154,068	$1,559,100
19	$2,789,171	-$992,324 -$161,772	$1,635,075
20	$2,928,618	-$1,043,919 -$169,860	$1,714,839
21	$3,075,072	-$1,098,107 -$178,354	$1,798,611
22	$3,228,841	-$1,155,002 -$187,273	$1,886,566
23	$3,390,233	-$1,214,717 -$196,634	$1,978,882
24	$3,559,787	-$1,277,452 -$206,468	$2,075,867
25	$3,737,734	-$1,343,292 -$216,789	$2,177,653
26	$3,924,690	-$1,412,466 -$227,632	$2,284,592
27	$4,120,886	-$1,485,058 -$239,011	$2,396,817
28	$4,326,938	-$1,561,297 -$250,962	$2,514,679
29	$4,543,308	-$1,641,354 -$263,512	$2,638,442
30	$4,770,458	-$1,725,400 -$276,687	$2,768,371