Oregon Lottery

ORLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 11, 2024 is estimated to be $36 Million, with a cash option of 16.8 Million. If you win the Powerball 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 Oregon, your state will take 8% of your lottery winnings.

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

Oregon Powerball Jackpot/Cash Option for Sat May 11, 2024

Draw Date	Jackpot	Cash Option
Sat May 11, 2024	$36,000,000	$16,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$16,800,000
Federal Tax(24%)	$4,032,000
Additional Federal Tax	$2,144,330
State Tax(8%)	$1,344,000
Net Lumpsum Payment	$9,279,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$541,836	-$160,810 -$43,347	$337,679
2	$568,944	-$170,840 -$45,516	$352,588
3	$597,384	-$181,362 -$47,791	$368,231
4	$627,264	-$192,418 -$50,181	$384,665
5	$658,620	-$204,020 -$52,690	$401,910
6	$691,560	-$216,208 -$55,325	$420,027
7	$726,120	-$228,995 -$58,090	$439,035
8	$762,444	-$242,435 -$60,996	$459,013
9	$800,568	-$256,541 -$64,045	$479,982
10	$840,600	-$271,352 -$67,248	$502,000
11	$882,612	-$286,897 -$70,609	$525,106
12	$926,748	-$303,227 -$74,140	$549,381
13	$973,080	-$320,370 -$77,846	$574,864
14	$1,021,752	-$338,379 -$81,740	$601,633
15	$1,072,836	-$357,280 -$85,827	$629,729
16	$1,126,476	-$377,127 -$90,118	$659,231
17	$1,182,780	-$397,959 -$94,622	$690,199
18	$1,241,928	-$419,844 -$99,354	$722,730
19	$1,304,028	-$442,821 -$104,322	$756,885
20	$1,369,224	-$466,943 -$109,538	$792,743
21	$1,437,696	-$492,278 -$115,016	$830,402
22	$1,509,588	-$518,878 -$120,767	$869,943
23	$1,585,044	-$546,797 -$126,804	$911,443
24	$1,664,316	-$576,127 -$133,145	$955,044
25	$1,747,512	-$606,910 -$139,801	$1,000,801
26	$1,834,920	-$639,251 -$146,794	$1,048,875
27	$1,926,648	-$673,190 -$154,132	$1,099,326
28	$2,022,984	-$708,834 -$161,839	$1,152,311
29	$2,124,144	-$746,264 -$169,932	$1,207,948
30	$2,230,344	-$785,558 -$178,428	$1,266,358