Oregon Lottery

ORLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 30, 2024 is estimated to be $257 Million, with a cash option of 115.6 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 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 MEGA Millions Jackpot/Cash Option for Tue Apr 30, 2024

Draw Date	Jackpot	Cash Option
Tue Apr 30, 2024	$257,000,000	$115,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$115,600,000
Federal Tax(24%)	$27,744,000
Additional Federal Tax	$14,988,330
State Tax(8%)	$9,248,000
Net Lumpsum Payment	$63,619,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,868,107	-$1,391,530 -$309,449	$2,167,128
2	$4,061,628	-$1,463,133 -$324,930	$2,273,565
3	$4,264,658	-$1,538,254 -$341,173	$2,385,231
4	$4,477,968	-$1,617,179 -$358,237	$2,502,552
5	$4,701,815	-$1,700,002 -$376,145	$2,625,668
6	$4,936,970	-$1,787,009 -$394,958	$2,755,003
7	$5,183,690	-$1,878,296 -$414,695	$2,890,699
8	$5,443,003	-$1,974,241 -$435,440	$3,033,322
9	$5,715,166	-$2,074,942 -$457,213	$3,183,011
10	$6,000,950	-$2,180,682 -$480,076	$3,340,192
11	$6,300,869	-$2,291,652 -$504,070	$3,505,147
12	$6,615,951	-$2,408,232 -$529,276	$3,678,443
13	$6,946,710	-$2,530,613 -$555,737	$3,860,360
14	$7,294,174	-$2,659,175 -$583,534	$4,051,465
15	$7,658,857	-$2,794,107 -$612,709	$4,252,041
16	$8,041,787	-$2,935,792 -$643,343	$4,462,652
17	$8,443,735	-$3,084,512 -$675,499	$4,683,724
18	$8,865,986	-$3,240,745 -$709,279	$4,915,962
19	$9,309,311	-$3,404,775 -$744,745	$5,159,791
20	$9,774,738	-$3,576,983 -$781,979	$5,415,776
21	$10,263,552	-$3,757,845 -$821,084	$5,684,623
22	$10,776,781	-$3,947,739 -$862,142	$5,966,900
23	$11,315,453	-$4,147,048 -$905,236	$6,263,169
24	$11,881,367	-$4,356,436 -$950,509	$6,574,422
25	$12,475,294	-$4,576,189 -$998,024	$6,901,081
26	$13,099,290	-$4,807,068 -$1,047,943	$7,244,279
27	$13,754,126	-$5,049,357 -$1,100,330	$7,604,439
28	$14,441,858	-$5,303,818 -$1,155,349	$7,982,691
29	$15,164,028	-$5,571,021 -$1,213,122	$8,379,885
30	$15,922,178	-$5,851,536 -$1,273,774	$8,796,868