The jackpot for the MEGA Millions draw on Tue Jan 14, 2025, is projected to be $95 Million, with an option for a cash payout of $41.6 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 Tue Jan 14, 2025 |
|---|
| Draw Date | Tue Jan 14, 2025 | | Projected Jackpot | $95,000,000 | | Cash Value | $41,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $41,600,000 | | Federal Tax(24%) | $9,984,000 | | Additional Federal Tax | $5,368,330 | | State Tax(5.8%) | $2,412,800 | | Net Lumpsum Payment | $23,834,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,429,845 |
$489,373
$82,931 |
$857,541 |
| 2 |
$1,501,380 |
$515,841
$87,080 |
$898,459 |
| 3 |
$1,576,430 |
$543,609
$91,433 |
$941,388 |
| 4 |
$1,655,280 |
$572,784
$96,006 |
$986,490 |
| 5 |
$1,738,025 |
$603,400
$100,805 |
$1,033,820 |
| 6 |
$1,824,950 |
$635,562
$105,847 |
$1,083,541 |
| 7 |
$1,916,150 |
$669,306
$111,137 |
$1,135,707 |
| 8 |
$2,012,005 |
$704,772
$116,696 |
$1,190,537 |
| 9 |
$2,112,610 |
$741,996
$122,531 |
$1,248,083 |
| 10 |
$2,218,250 |
$781,083
$128,659 |
$1,308,508 |
| 11 |
$2,329,115 |
$822,103
$135,089 |
$1,371,923 |
| 12 |
$2,445,585 |
$865,197
$141,844 |
$1,438,544 |
| 13 |
$2,567,850 |
$910,435
$148,935 |
$1,508,480 |
| 14 |
$2,696,290 |
$957,958
$156,385 |
$1,581,947 |
| 15 |
$2,831,095 |
$1,007,836
$164,204 |
$1,659,055 |
| 16 |
$2,972,645 |
$1,060,209
$172,413 |
$1,740,023 |
| 17 |
$3,121,225 |
$1,115,184
$181,031 |
$1,825,010 |
| 18 |
$3,277,310 |
$1,172,935
$190,084 |
$1,914,291 |
| 19 |
$3,441,185 |
$1,233,569
$199,589 |
$2,008,027 |
| 20 |
$3,613,230 |
$1,297,225
$209,567 |
$2,106,438 |
| 21 |
$3,793,920 |
$1,364,081
$220,047 |
$2,209,792 |
| 22 |
$3,983,635 |
$1,434,275
$231,051 |
$2,318,309 |
| 23 |
$4,182,755 |
$1,507,950
$242,600 |
$2,432,205 |
| 24 |
$4,391,945 |
$1,585,350
$254,733 |
$2,551,862 |
| 25 |
$4,611,490 |
$1,666,582
$267,466 |
$2,677,442 |
| 26 |
$4,842,150 |
$1,751,926
$280,845 |
$2,809,379 |
| 27 |
$5,084,210 |
$1,841,488
$294,884 |
$2,947,838 |
| 28 |
$5,338,430 |
$1,935,549
$309,629 |
$3,093,252 |
| 29 |
$5,605,380 |
$2,034,321
$325,112 |
$3,245,947 |
| 30 |
$5,885,630 |
$2,138,013
$341,367 |
$3,406,250 |
|
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