The jackpot for the MEGA Millions draw on Fri Nov 22, 2024, is projected to be $453 Million, with an option for a cash payout of $209.6 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 Fri Nov 22, 2024 |
|---|
| Draw Date | Fri Nov 22, 2024 | | Projected Jackpot | $453,000,000 | | Cash Value | $209,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $209,600,000 | | Federal Tax(24%) | $50,304,000 | | Additional Federal Tax | $27,208,330 | | State Tax(5.8%) | $12,156,800 | | Net Lumpsum Payment | $119,930,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,818,103 |
$2,483,028
$395,450 |
$3,939,625 |
| 2 |
$7,159,212 |
$2,609,239
$415,234 |
$4,134,739 |
| 3 |
$7,517,082 |
$2,741,651
$435,991 |
$4,339,440 |
| 4 |
$7,893,072 |
$2,880,767
$457,798 |
$4,554,507 |
| 5 |
$8,287,635 |
$3,026,755
$480,683 |
$4,780,197 |
| 6 |
$8,702,130 |
$3,180,118
$504,724 |
$5,017,288 |
| 7 |
$9,137,010 |
$3,341,024
$529,947 |
$5,266,039 |
| 8 |
$9,594,087 |
$3,510,143
$556,457 |
$5,527,487 |
| 9 |
$10,073,814 |
$3,687,642
$584,281 |
$5,801,891 |
| 10 |
$10,577,550 |
$3,874,024
$613,498 |
$6,090,028 |
| 11 |
$11,106,201 |
$4,069,625
$644,160 |
$6,392,416 |
| 12 |
$11,661,579 |
$4,275,115
$676,372 |
$6,710,092 |
| 13 |
$12,244,590 |
$4,490,829
$710,186 |
$7,043,575 |
| 14 |
$12,857,046 |
$4,717,437
$745,709 |
$7,393,900 |
| 15 |
$13,499,853 |
$4,955,276
$782,991 |
$7,761,586 |
| 16 |
$14,174,823 |
$5,205,015
$822,140 |
$8,147,668 |
| 17 |
$14,883,315 |
$5,467,157
$863,232 |
$8,552,926 |
| 18 |
$15,627,594 |
$5,742,540
$906,400 |
$8,978,654 |
| 19 |
$16,409,019 |
$6,031,667
$951,723 |
$9,425,629 |
| 20 |
$17,229,402 |
$6,335,209
$999,305 |
$9,894,888 |
| 21 |
$18,091,008 |
$6,654,003
$1,049,278 |
$10,387,727 |
| 22 |
$18,995,649 |
$6,988,721
$1,101,748 |
$10,905,180 |
| 23 |
$19,945,137 |
$7,340,031
$1,156,818 |
$11,448,288 |
| 24 |
$20,942,643 |
$7,709,108
$1,214,673 |
$12,018,862 |
| 25 |
$21,989,526 |
$8,096,455
$1,275,393 |
$12,617,678 |
| 26 |
$23,089,410 |
$8,503,412
$1,339,186 |
$13,246,812 |
| 27 |
$24,243,654 |
$8,930,482
$1,406,132 |
$13,907,040 |
| 28 |
$25,455,882 |
$9,379,007
$1,476,441 |
$14,600,434 |
| 29 |
$26,728,812 |
$9,849,991
$1,550,271 |
$15,328,550 |
| 30 |
$28,065,162 |
$10,344,440
$1,627,779 |
$16,092,943 |
|
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