The jackpot for the MEGA Millions draw on Fri Nov 29, 2024, is projected to be $514 Million, with an option for a cash payout of $241 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 29, 2024 |
|---|
| Draw Date | Fri Nov 29, 2024 | | Projected Jackpot | $514,000,000 | | Cash Value | $241,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $241,000,000 | | Federal Tax(24%) | $57,840,000 | | Additional Federal Tax | $31,290,330 | | State Tax(5.8%) | $13,978,000 | | Net Lumpsum Payment | $137,891,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$7,736,214 |
$2,822,730
$448,700 |
$4,464,784 |
| 2 |
$8,123,256 |
$2,965,935
$471,149 |
$4,686,172 |
| 3 |
$8,529,316 |
$3,116,177
$494,700 |
$4,918,439 |
| 4 |
$8,955,936 |
$3,274,027
$519,444 |
$5,162,465 |
| 5 |
$9,403,630 |
$3,439,673
$545,411 |
$5,418,546 |
| 6 |
$9,873,940 |
$3,613,688
$572,689 |
$5,687,563 |
| 7 |
$10,367,380 |
$3,796,261
$601,308 |
$5,969,811 |
| 8 |
$10,886,006 |
$3,988,153
$631,388 |
$6,266,465 |
| 9 |
$11,430,332 |
$4,189,553
$662,959 |
$6,577,820 |
| 10 |
$12,001,900 |
$4,401,033
$696,110 |
$6,904,757 |
| 11 |
$12,601,738 |
$4,622,973
$730,901 |
$7,247,864 |
| 12 |
$13,231,902 |
$4,856,134
$767,450 |
$7,608,318 |
| 13 |
$13,893,420 |
$5,100,896
$805,818 |
$7,986,706 |
| 14 |
$14,588,348 |
$5,358,019
$846,124 |
$8,384,205 |
| 15 |
$15,317,714 |
$5,627,885
$888,427 |
$8,801,402 |
| 16 |
$16,083,574 |
$5,911,253
$932,847 |
$9,239,474 |
| 17 |
$16,887,470 |
$6,208,694
$979,473 |
$9,699,303 |
| 18 |
$17,731,972 |
$6,521,160
$1,028,454 |
$10,182,358 |
| 19 |
$18,618,622 |
$6,849,221
$1,079,880 |
$10,689,521 |
| 20 |
$19,549,476 |
$7,193,637
$1,133,870 |
$11,221,969 |
| 21 |
$20,527,104 |
$7,555,359
$1,190,572 |
$11,781,173 |
| 22 |
$21,553,562 |
$7,935,148
$1,250,107 |
$12,368,307 |
| 23 |
$22,630,906 |
$8,333,766
$1,312,593 |
$12,984,547 |
| 24 |
$23,762,734 |
$8,752,542
$1,378,239 |
$13,631,953 |
| 25 |
$24,950,588 |
$9,192,048
$1,447,134 |
$14,311,406 |
| 26 |
$26,198,580 |
$9,653,805
$1,519,518 |
$15,025,257 |
| 27 |
$27,508,252 |
$10,138,384
$1,595,479 |
$15,774,389 |
| 28 |
$28,883,716 |
$10,647,305
$1,675,256 |
$16,561,155 |
| 29 |
$30,328,056 |
$11,181,711
$1,759,027 |
$17,387,318 |
| 30 |
$31,844,356 |
$11,742,742
$1,846,973 |
$18,254,641 |
|
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