Oregon Lottery

ORLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 15, 2024 is estimated to be $387 Million, with a cash option of 181.4 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 Fri Nov 15, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 15, 2024	$387,000,000	$181,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$181,400,000
Federal Tax(24%)	$43,536,000
Additional Federal Tax	$23,542,330
State Tax(8%)	$14,512,000
Net Lumpsum Payment	$99,809,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,824,737	-$2,115,483 -$465,979	$3,243,275
2	$6,116,148	-$2,223,305 -$489,292	$3,403,551
3	$6,421,878	-$2,336,425 -$513,750	$3,571,703
4	$6,743,088	-$2,455,273 -$539,447	$3,748,368
5	$7,080,165	-$2,579,991 -$566,413	$3,933,761
6	$7,434,270	-$2,711,010 -$594,742	$4,128,518
7	$7,805,790	-$2,848,473 -$624,463	$4,332,854
8	$8,196,273	-$2,992,951 -$655,702	$4,547,620
9	$8,606,106	-$3,144,590 -$688,488	$4,773,028
10	$9,036,450	-$3,303,817 -$722,916	$5,009,717
11	$9,488,079	-$3,470,920 -$759,046	$5,258,113
12	$9,962,541	-$3,646,471 -$797,003	$5,519,067
13	$10,460,610	-$3,830,756 -$836,849	$5,793,005
14	$10,983,834	-$4,024,349 -$878,707	$6,080,778
15	$11,532,987	-$4,227,536 -$922,639	$6,382,812
16	$12,109,617	-$4,440,889 -$968,769	$6,699,959
17	$12,714,885	-$4,664,838 -$1,017,191	$7,032,856
18	$13,350,726	-$4,900,099 -$1,068,058	$7,382,569
19	$14,018,301	-$5,147,102 -$1,121,464	$7,749,735
20	$14,719,158	-$5,406,419 -$1,177,533	$8,135,206
21	$15,455,232	-$5,678,766 -$1,236,419	$8,540,047
22	$16,228,071	-$5,964,717 -$1,298,246	$8,965,108
23	$17,039,223	-$6,264,843 -$1,363,138	$9,411,242
24	$17,891,397	-$6,580,147 -$1,431,312	$9,879,938
25	$18,785,754	-$6,911,059 -$1,502,860	$10,371,835
26	$19,725,390	-$7,258,725 -$1,578,031	$10,888,634
27	$20,711,466	-$7,623,573 -$1,656,917	$11,430,976
28	$21,747,078	-$8,006,749 -$1,739,766	$12,000,563
29	$22,834,548	-$8,409,113 -$1,826,764	$12,598,671
30	$23,976,198	-$8,831,524 -$1,918,096	$13,226,578