Idaho Lottery

IDLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Mar 11, 2025 is estimated to be $256 Million, with a cash option of 119.5 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Idaho, your state will take 5.8% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Idaho MEGA Millions Jackpot/Cash Option for Tue Mar 11, 2025

Draw Date	Jackpot	Cash Option
Tue Mar 11, 2025	$256,000,000	$119,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$119,500,000
Federal Tax(24%)	$28,680,000
Additional Federal Tax	$15,495,330
State Tax(5.8%)	$6,931,000
Net Lumpsum Payment	$68,393,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,853,056	-$1,385,961 -$223,477	$2,243,618
2	$4,045,824	-$1,457,285 -$234,658	$2,353,881
3	$4,248,064	-$1,532,114 -$246,388	$2,469,562
4	$4,460,544	-$1,610,732 -$258,712	$2,591,100
5	$4,683,520	-$1,693,233 -$271,644	$2,718,643
6	$4,917,760	-$1,779,902 -$285,230	$2,852,628
7	$5,163,520	-$1,870,833 -$299,484	$2,993,203
8	$5,421,824	-$1,966,405 -$314,466	$3,140,953
9	$5,692,928	-$2,066,714 -$330,190	$3,296,024
10	$5,977,600	-$2,172,042 -$346,701	$3,458,857
11	$6,276,352	-$2,282,581 -$364,028	$3,629,743
12	$6,590,208	-$2,398,707 -$382,232	$3,809,269
13	$6,919,680	-$2,520,612 -$401,341	$3,997,727
14	$7,265,792	-$2,648,673 -$421,416	$4,195,703
15	$7,629,056	-$2,783,081 -$442,485	$4,403,490
16	$8,010,496	-$2,924,214 -$464,609	$4,621,673
17	$8,410,880	-$3,072,356 -$487,831	$4,850,693
18	$8,831,488	-$3,227,981 -$512,226	$5,091,281
19	$9,273,088	-$3,391,373 -$537,839	$5,343,876
20	$9,736,704	-$3,562,911 -$564,729	$5,609,064
21	$10,223,616	-$3,743,068 -$592,970	$5,887,578
22	$10,734,848	-$3,932,224 -$622,621	$6,180,003
23	$11,271,424	-$4,130,757 -$653,743	$6,486,924
24	$11,835,136	-$4,339,331 -$686,438	$6,809,367
25	$12,426,752	-$4,558,229 -$720,752	$7,147,771
26	$13,048,320	-$4,788,209 -$756,803	$7,503,308
27	$13,700,608	-$5,029,555 -$794,635	$7,876,418
28	$14,385,664	-$5,283,026 -$834,369	$8,268,269
29	$15,105,024	-$5,549,189 -$876,091	$8,679,744
30	$15,860,224	-$5,828,613 -$919,893	$9,111,718