The jackpot for the MEGA Millions draw on Tue May 20, 2025, is projected to be $139 Million, with an option for a cash payout of $62.3 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 20, 2025 |
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Draw Date | Tue May 20, 2025 | Projected Jackpot | $139,000,000 | Cash Value | $62,300,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $62,300,000 | Federal Tax(24%) | $14,952,000 | Additional Federal Tax | $8,059,330 | State Tax(5.8%) | $3,613,400 | Net Lumpsum Payment | $35,675,270 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,092,089 |
$734,403 $121,341 |
$1,236,345 |
2 |
$2,196,756 |
$773,130 $127,412 |
$1,296,214 |
3 |
$2,306,566 |
$813,760 $133,781 |
$1,359,025 |
4 |
$2,421,936 |
$856,447 $140,472 |
$1,425,017 |
5 |
$2,543,005 |
$901,242 $147,494 |
$1,494,269 |
6 |
$2,670,190 |
$948,301 $154,871 |
$1,567,018 |
7 |
$2,803,630 |
$997,673 $162,611 |
$1,643,346 |
8 |
$2,943,881 |
$1,049,566 $170,745 |
$1,723,570 |
9 |
$3,091,082 |
$1,104,031 $179,283 |
$1,807,768 |
10 |
$3,245,650 |
$1,161,221 $188,248 |
$1,896,181 |
11 |
$3,407,863 |
$1,221,240 $197,656 |
$1,988,967 |
12 |
$3,578,277 |
$1,284,293 $207,540 |
$2,086,444 |
13 |
$3,757,170 |
$1,350,483 $217,916 |
$2,188,771 |
14 |
$3,945,098 |
$1,420,017 $228,816 |
$2,296,265 |
15 |
$4,142,339 |
$1,492,996 $240,256 |
$2,409,087 |
16 |
$4,349,449 |
$1,569,627 $252,268 |
$2,527,554 |
17 |
$4,566,845 |
$1,650,063 $264,877 |
$2,651,905 |
18 |
$4,795,222 |
$1,734,563 $278,123 |
$2,782,536 |
19 |
$5,034,997 |
$1,823,279 $292,030 |
$2,919,688 |
20 |
$5,286,726 |
$1,916,419 $306,630 |
$3,063,677 |
21 |
$5,551,104 |
$2,014,239 $321,964 |
$3,214,901 |
22 |
$5,828,687 |
$2,116,945 $338,064 |
$3,373,678 |
23 |
$6,120,031 |
$2,224,742 $354,962 |
$3,540,327 |
24 |
$6,426,109 |
$2,337,991 $372,714 |
$3,715,404 |
25 |
$6,747,338 |
$2,456,845 $391,346 |
$3,899,147 |
26 |
$7,084,830 |
$2,581,717 $410,920 |
$4,092,193 |
27 |
$7,439,002 |
$2,712,761 $431,462 |
$4,294,779 |
28 |
$7,810,966 |
$2,850,388 $453,036 |
$4,507,542 |
29 |
$8,201,556 |
$2,994,906 $475,690 |
$4,730,960 |
30 |
$8,611,606 |
$3,146,625 $499,473 |
$4,965,508 |
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