The jackpot for the MEGA Millions draw on Fri Feb 28, 2025, is projected to be $197 Million, with an option for a cash payout of $91.9 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 Feb 28, 2025 |
|---|
| Draw Date | Fri Feb 28, 2025 | | Projected Jackpot | $197,000,000 | | Cash Value | $91,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $91,900,000 | | Federal Tax(24%) | $22,056,000 | | Additional Federal Tax | $11,907,330 | | State Tax(5.8%) | $5,330,200 | | Net Lumpsum Payment | $52,606,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,965,047 |
$1,057,398
$171,973 |
$1,735,676 |
| 2 |
$3,113,388 |
$1,112,284
$180,577 |
$1,820,527 |
| 3 |
$3,269,018 |
$1,169,867
$189,603 |
$1,909,548 |
| 4 |
$3,432,528 |
$1,230,366
$199,087 |
$2,003,075 |
| 5 |
$3,604,115 |
$1,293,853
$209,039 |
$2,101,223 |
| 6 |
$3,784,370 |
$1,360,547
$219,493 |
$2,204,330 |
| 7 |
$3,973,490 |
$1,430,522
$230,462 |
$2,312,506 |
| 8 |
$4,172,263 |
$1,504,068
$241,991 |
$2,426,204 |
| 9 |
$4,380,886 |
$1,581,258
$254,091 |
$2,545,537 |
| 10 |
$4,599,950 |
$1,662,312
$266,797 |
$2,670,841 |
| 11 |
$4,829,849 |
$1,747,375
$280,131 |
$2,802,343 |
| 12 |
$5,071,371 |
$1,836,738
$294,140 |
$2,940,493 |
| 13 |
$5,324,910 |
$1,930,547
$308,845 |
$3,085,518 |
| 14 |
$5,591,254 |
$2,029,094
$324,293 |
$3,237,867 |
| 15 |
$5,870,797 |
$2,132,525
$340,506 |
$3,397,766 |
| 16 |
$6,164,327 |
$2,241,131
$357,531 |
$3,565,665 |
| 17 |
$6,472,435 |
$2,355,131
$375,401 |
$3,741,903 |
| 18 |
$6,796,106 |
$2,474,890
$394,174 |
$3,927,042 |
| 19 |
$7,135,931 |
$2,600,625
$413,884 |
$4,121,422 |
| 20 |
$7,492,698 |
$2,732,629
$434,576 |
$4,325,493 |
| 21 |
$7,867,392 |
$2,871,265
$456,309 |
$4,539,818 |
| 22 |
$8,260,801 |
$3,016,827
$479,126 |
$4,764,848 |
| 23 |
$8,673,713 |
$3,169,604
$503,075 |
$5,001,034 |
| 24 |
$9,107,507 |
$3,330,108
$528,235 |
$5,249,164 |
| 25 |
$9,562,774 |
$3,498,557
$554,641 |
$5,509,576 |
| 26 |
$10,041,090 |
$3,675,534
$582,383 |
$5,783,173 |
| 27 |
$10,543,046 |
$3,861,257
$611,497 |
$6,070,292 |
| 28 |
$11,070,218 |
$4,056,311
$642,073 |
$6,371,834 |
| 29 |
$11,623,788 |
$4,261,132
$674,180 |
$6,688,476 |
| 30 |
$12,204,938 |
$4,476,157
$707,886 |
$7,020,895 |
|
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