The jackpot for the MEGA Millions draw on Tue Dec 24, 2024, is projected to be $944 Million, with an option for a cash payout of $429.4 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 Dec 24, 2024 |
|---|
| Draw Date | Tue Dec 24, 2024 | | Projected Jackpot | $944,000,000 | | Cash Value | $429,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $429,400,000 | | Federal Tax(24%) | $103,056,000 | | Additional Federal Tax | $55,782,330 | | State Tax(5.8%) | $24,905,200 | | Net Lumpsum Payment | $245,656,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,208,144 |
$5,217,344
$824,072 |
$8,166,728 |
| 2 |
$14,918,976 |
$5,480,352
$865,301 |
$8,573,323 |
| 3 |
$15,664,736 |
$5,756,283
$908,555 |
$8,999,898 |
| 4 |
$16,448,256 |
$6,046,185
$953,999 |
$9,448,072 |
| 5 |
$17,270,480 |
$6,350,408
$1,001,688 |
$9,918,384 |
| 6 |
$18,134,240 |
$6,669,999
$1,051,786 |
$10,412,455 |
| 7 |
$19,040,480 |
$7,005,308
$1,104,348 |
$10,930,824 |
| 8 |
$19,992,976 |
$7,357,732
$1,159,593 |
$11,475,651 |
| 9 |
$20,992,672 |
$7,727,619
$1,217,575 |
$12,047,478 |
| 10 |
$22,042,400 |
$8,116,018
$1,278,459 |
$12,647,923 |
| 11 |
$23,144,048 |
$8,523,628
$1,342,355 |
$13,278,065 |
| 12 |
$24,301,392 |
$8,951,845
$1,409,481 |
$13,940,066 |
| 13 |
$25,516,320 |
$9,401,369
$1,479,947 |
$14,635,004 |
| 14 |
$26,792,608 |
$9,873,595
$1,553,971 |
$15,365,042 |
| 15 |
$28,132,144 |
$10,369,224
$1,631,664 |
$16,131,256 |
| 16 |
$29,538,704 |
$10,889,651
$1,713,245 |
$16,935,808 |
| 17 |
$31,015,120 |
$11,435,925
$1,798,877 |
$17,780,318 |
| 18 |
$32,566,112 |
$12,009,792
$1,888,834 |
$18,667,486 |
| 19 |
$34,194,512 |
$12,612,300
$1,983,282 |
$19,598,930 |
| 20 |
$35,904,096 |
$13,244,846
$2,082,438 |
$20,576,812 |
| 21 |
$37,699,584 |
$13,909,176
$2,186,576 |
$21,603,832 |
| 22 |
$39,584,752 |
$14,606,689
$2,295,916 |
$22,682,147 |
| 23 |
$41,563,376 |
$15,338,780
$2,410,676 |
$23,813,920 |
| 24 |
$43,642,064 |
$16,107,894
$2,531,240 |
$25,002,930 |
| 25 |
$45,823,648 |
$16,915,080
$2,657,772 |
$26,250,796 |
| 26 |
$48,115,680 |
$17,763,132
$2,790,709 |
$27,561,839 |
| 27 |
$50,520,992 |
$18,653,097
$2,930,218 |
$28,937,677 |
| 28 |
$53,047,136 |
$19,587,771
$3,076,734 |
$30,382,631 |
| 29 |
$55,699,776 |
$20,569,248
$3,230,587 |
$31,899,941 |
| 30 |
$58,484,576 |
$21,599,624
$3,392,105 |
$33,492,847 |
|
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