The jackpot for the MEGA Millions draw on Fri May 2, 2025, is projected to be $80 Million, with an option for a cash payout of $36.4 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 May 2, 2025 |
|---|
| Draw Date | Fri May 2, 2025 | | Projected Jackpot | $80,000,000 | | Cash Value | $36,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $36,400,000 | | Federal Tax(24%) | $8,736,000 | | Additional Federal Tax | $4,692,330 | | State Tax(5.8%) | $2,111,200 | | Net Lumpsum Payment | $20,860,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,204,080 |
$405,840
$69,837 |
$728,403 |
| 2 |
$1,264,320 |
$428,129
$73,331 |
$762,860 |
| 3 |
$1,327,520 |
$451,513
$76,996 |
$799,011 |
| 4 |
$1,393,920 |
$476,081
$80,847 |
$836,992 |
| 5 |
$1,463,600 |
$501,862
$84,889 |
$876,849 |
| 6 |
$1,536,800 |
$528,946
$89,134 |
$918,720 |
| 7 |
$1,613,600 |
$557,362
$93,589 |
$962,649 |
| 8 |
$1,694,320 |
$587,229
$98,271 |
$1,008,820 |
| 9 |
$1,779,040 |
$618,575
$103,184 |
$1,057,281 |
| 10 |
$1,868,000 |
$651,490
$108,344 |
$1,108,166 |
| 11 |
$1,961,360 |
$686,034
$113,759 |
$1,161,567 |
| 12 |
$2,059,440 |
$722,323
$119,448 |
$1,217,669 |
| 13 |
$2,162,400 |
$760,418
$125,419 |
$1,276,563 |
| 14 |
$2,270,560 |
$800,438
$131,692 |
$1,338,430 |
| 15 |
$2,384,080 |
$842,440
$138,277 |
$1,403,363 |
| 16 |
$2,503,280 |
$886,544
$145,190 |
$1,471,546 |
| 17 |
$2,628,400 |
$932,838
$152,447 |
$1,543,115 |
| 18 |
$2,759,840 |
$981,471
$160,071 |
$1,618,298 |
| 19 |
$2,897,840 |
$1,032,531
$168,075 |
$1,697,234 |
| 20 |
$3,042,720 |
$1,086,137
$176,478 |
$1,780,105 |
| 21 |
$3,194,880 |
$1,142,436
$185,303 |
$1,867,141 |
| 22 |
$3,354,640 |
$1,201,547
$194,569 |
$1,958,524 |
| 23 |
$3,522,320 |
$1,263,589
$204,295 |
$2,054,436 |
| 24 |
$3,698,480 |
$1,328,768
$214,512 |
$2,155,200 |
| 25 |
$3,883,360 |
$1,397,174
$225,235 |
$2,260,951 |
| 26 |
$4,077,600 |
$1,469,042
$236,501 |
$2,372,057 |
| 27 |
$4,281,440 |
$1,544,463
$248,324 |
$2,488,653 |
| 28 |
$4,495,520 |
$1,623,673
$260,740 |
$2,611,107 |
| 29 |
$4,720,320 |
$1,706,849
$273,779 |
$2,739,692 |
| 30 |
$4,956,320 |
$1,794,169
$287,467 |
$2,874,684 |
|
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