The jackpot for the MEGA Millions draw on Tue May 6, 2025, is projected to be $90 Million, with an option for a cash payout of $40.8 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Idaho residents, the state will deduct 5.8% from your lottery earnings.
| Idaho MEGA Millions Jackpot/Cash Option for Tue May 6, 2025 |
|---|
| Draw Date | Tue May 6, 2025 | | Projected Jackpot | $90,000,000 | | Cash Value | $40,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $40,800,000 | | Federal Tax(24%) | $9,792,000 | | Additional Federal Tax | $5,264,330 | | State Tax(5.8%) | $2,366,400 | | Net Lumpsum Payment | $23,377,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,354,590 |
$461,529
$78,566 |
$814,495 |
| 2 |
$1,422,360 |
$486,604
$82,497 |
$853,259 |
| 3 |
$1,493,460 |
$512,911
$86,621 |
$893,928 |
| 4 |
$1,568,160 |
$540,550
$90,953 |
$936,657 |
| 5 |
$1,646,550 |
$569,554
$95,500 |
$981,496 |
| 6 |
$1,728,900 |
$600,023
$100,276 |
$1,028,601 |
| 7 |
$1,815,300 |
$631,991
$105,287 |
$1,078,022 |
| 8 |
$1,906,110 |
$665,591
$110,554 |
$1,129,965 |
| 9 |
$2,001,420 |
$700,856
$116,082 |
$1,184,482 |
| 10 |
$2,101,500 |
$737,885
$121,887 |
$1,241,728 |
| 11 |
$2,206,530 |
$776,746
$127,979 |
$1,301,805 |
| 12 |
$2,316,870 |
$817,572
$134,378 |
$1,364,920 |
| 13 |
$2,432,700 |
$860,429
$141,097 |
$1,431,174 |
| 14 |
$2,554,380 |
$905,451
$148,154 |
$1,500,775 |
| 15 |
$2,682,090 |
$952,704
$155,561 |
$1,573,825 |
| 16 |
$2,816,190 |
$1,002,321
$163,339 |
$1,650,530 |
| 17 |
$2,956,950 |
$1,054,402
$171,503 |
$1,731,045 |
| 18 |
$3,104,820 |
$1,109,114
$180,080 |
$1,815,626 |
| 19 |
$3,260,070 |
$1,166,556
$189,084 |
$1,904,430 |
| 20 |
$3,423,060 |
$1,226,863
$198,537 |
$1,997,660 |
| 21 |
$3,594,240 |
$1,290,199
$208,466 |
$2,095,575 |
| 22 |
$3,773,970 |
$1,356,699
$218,890 |
$2,198,381 |
| 23 |
$3,962,610 |
$1,426,496
$229,831 |
$2,306,283 |
| 24 |
$4,160,790 |
$1,499,823
$241,326 |
$2,419,641 |
| 25 |
$4,368,780 |
$1,576,779
$253,389 |
$2,538,612 |
| 26 |
$4,587,300 |
$1,657,631
$266,063 |
$2,663,606 |
| 27 |
$4,816,620 |
$1,742,480
$279,364 |
$2,794,776 |
| 28 |
$5,057,460 |
$1,831,591
$293,333 |
$2,932,536 |
| 29 |
$5,310,360 |
$1,925,164
$308,001 |
$3,077,195 |
| 30 |
$5,575,860 |
$2,023,399
$323,400 |
$3,229,061 |
|
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