Idaho hit the lottery jackpot, too
When an as-yet unnamed person bought a winning Mega Millions lottery ticket in Post Falls, that winner not only hit a $190 million jackpot - he or she triggered a jackpot for the state, too, House Tax Chairman Dennis Lake noted. That's because lottery winnings are taxable under Idaho's state income tax. "That's going to be about $15 million that we'll see in a windfall for the state," Lake said, turning to Senate Finance Chairman Dean Cameron, "Dean, spend it wisely," he said.
The $15 million is the taxes due on $190 million. If the winner opted for the lump-sum payout of $120 million, Idaho state income taxes would be a little over $9 million.