The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 Fri Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(5.8%) | $10,521,200 | | Net Lumpsum Payment | $103,800,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$337,835 |
$3,371,419 |
| 2 |
$6,116,148 |
$2,223,305
$354,737 |
$3,538,106 |
| 3 |
$6,421,878 |
$2,336,425
$372,469 |
$3,712,984 |
| 4 |
$6,743,088 |
$2,455,273
$391,099 |
$3,896,716 |
| 5 |
$7,080,165 |
$2,579,991
$410,650 |
$4,089,524 |
| 6 |
$7,434,270 |
$2,711,010
$431,188 |
$4,292,072 |
| 7 |
$7,805,790 |
$2,848,473
$452,736 |
$4,504,581 |
| 8 |
$8,196,273 |
$2,992,951
$475,384 |
$4,727,938 |
| 9 |
$8,606,106 |
$3,144,590
$499,154 |
$4,962,362 |
| 10 |
$9,036,450 |
$3,303,817
$524,114 |
$5,208,519 |
| 11 |
$9,488,079 |
$3,470,920
$550,309 |
$5,466,850 |
| 12 |
$9,962,541 |
$3,646,471
$577,827 |
$5,738,243 |
| 13 |
$10,460,610 |
$3,830,756
$606,715 |
$6,023,139 |
| 14 |
$10,983,834 |
$4,024,349
$637,062 |
$6,322,423 |
| 15 |
$11,532,987 |
$4,227,536
$668,913 |
$6,636,538 |
| 16 |
$12,109,617 |
$4,440,889
$702,358 |
$6,966,370 |
| 17 |
$12,714,885 |
$4,664,838
$737,463 |
$7,312,584 |
| 18 |
$13,350,726 |
$4,900,099
$774,342 |
$7,676,285 |
| 19 |
$14,018,301 |
$5,147,102
$813,061 |
$8,058,138 |
| 20 |
$14,719,158 |
$5,406,419
$853,711 |
$8,459,028 |
| 21 |
$15,455,232 |
$5,678,766
$896,403 |
$8,880,063 |
| 22 |
$16,228,071 |
$5,964,717
$941,228 |
$9,322,126 |
| 23 |
$17,039,223 |
$6,264,843
$988,275 |
$9,786,105 |
| 24 |
$17,891,397 |
$6,580,147
$1,037,701 |
$10,273,549 |
| 25 |
$18,785,754 |
$6,911,059
$1,089,574 |
$10,785,121 |
| 26 |
$19,725,390 |
$7,258,725
$1,144,073 |
$11,322,592 |
| 27 |
$20,711,466 |
$7,623,573
$1,201,265 |
$11,886,628 |
| 28 |
$21,747,078 |
$8,006,749
$1,261,331 |
$12,478,998 |
| 29 |
$22,834,548 |
$8,409,113
$1,324,404 |
$13,101,031 |
| 30 |
$23,976,198 |
$8,831,524
$1,390,619 |
$13,754,055 |
|
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