Oregon Lottery

ORLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Dec 24, 2024 is estimated to be $944 Million, with a cash option of 429.4 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Oregon MEGA Millions Jackpot/Cash Option for Tue Dec 24, 2024

Draw Date	Jackpot	Cash Option
Tue Dec 24, 2024	$944,000,000	$429,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$429,400,000
Federal Tax(24%)	$103,056,000
Additional Federal Tax	$55,782,330
State Tax(8%)	$34,352,000
Net Lumpsum Payment	$236,209,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$14,208,144	-$5,217,344 -$1,136,652	$7,854,148
2	$14,918,976	-$5,480,352 -$1,193,518	$8,245,106
3	$15,664,736	-$5,756,283 -$1,253,179	$8,655,274
4	$16,448,256	-$6,046,185 -$1,315,860	$9,086,211
5	$17,270,480	-$6,350,408 -$1,381,638	$9,538,434
6	$18,134,240	-$6,669,999 -$1,450,739	$10,013,502
7	$19,040,480	-$7,005,308 -$1,523,238	$10,511,934
8	$19,992,976	-$7,357,732 -$1,599,438	$11,035,806
9	$20,992,672	-$7,727,619 -$1,679,414	$11,585,639
10	$22,042,400	-$8,116,018 -$1,763,392	$12,162,990
11	$23,144,048	-$8,523,628 -$1,851,524	$12,768,896
12	$24,301,392	-$8,951,845 -$1,944,111	$13,405,436
13	$25,516,320	-$9,401,369 -$2,041,306	$14,073,645
14	$26,792,608	-$9,873,595 -$2,143,409	$14,775,604
15	$28,132,144	-$10,369,224 -$2,250,572	$15,512,348
16	$29,538,704	-$10,889,651 -$2,363,096	$16,285,957
17	$31,015,120	-$11,435,925 -$2,481,210	$17,097,985
18	$32,566,112	-$12,009,792 -$2,605,289	$17,951,031
19	$34,194,512	-$12,612,300 -$2,735,561	$18,846,651
20	$35,904,096	-$13,244,846 -$2,872,328	$19,786,922
21	$37,699,584	-$13,909,176 -$3,015,967	$20,774,441
22	$39,584,752	-$14,606,689 -$3,166,780	$21,811,283
23	$41,563,376	-$15,338,780 -$3,325,070	$22,899,526
24	$43,642,064	-$16,107,894 -$3,491,365	$24,042,805
25	$45,823,648	-$16,915,080 -$3,665,892	$25,242,676
26	$48,115,680	-$17,763,132 -$3,849,254	$26,503,294
27	$50,520,992	-$18,653,097 -$4,041,679	$27,826,216
28	$53,047,136	-$19,587,771 -$4,243,771	$29,215,594
29	$55,699,776	-$20,569,248 -$4,455,982	$30,674,546
30	$58,484,576	-$21,599,624 -$4,678,766	$32,206,186