Oregon Lottery

ORLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Nov 22, 2024 is estimated to be $453 Million, with a cash option of 209.6 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 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 22, 2024

Draw Date	Jackpot	Cash Option
Fri Nov 22, 2024	$453,000,000	$209,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$209,600,000
Federal Tax(24%)	$50,304,000
Additional Federal Tax	$27,208,330
State Tax(8%)	$16,768,000
Net Lumpsum Payment	$115,319,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,818,103	-$2,483,028 -$545,448	$3,789,627
2	$7,159,212	-$2,609,239 -$572,737	$3,977,236
3	$7,517,082	-$2,741,651 -$601,367	$4,174,064
4	$7,893,072	-$2,880,767 -$631,446	$4,380,859
5	$8,287,635	-$3,026,755 -$663,011	$4,597,869
6	$8,702,130	-$3,180,118 -$696,170	$4,825,842
7	$9,137,010	-$3,341,024 -$730,961	$5,065,025
8	$9,594,087	-$3,510,143 -$767,527	$5,316,417
9	$10,073,814	-$3,687,642 -$805,905	$5,580,267
10	$10,577,550	-$3,874,024 -$846,204	$5,857,322
11	$11,106,201	-$4,069,625 -$888,496	$6,148,080
12	$11,661,579	-$4,275,115 -$932,926	$6,453,538
13	$12,244,590	-$4,490,829 -$979,567	$6,774,194
14	$12,857,046	-$4,717,437 -$1,028,564	$7,111,045
15	$13,499,853	-$4,955,276 -$1,079,988	$7,464,589
16	$14,174,823	-$5,205,015 -$1,133,986	$7,835,822
17	$14,883,315	-$5,467,157 -$1,190,665	$8,225,493
18	$15,627,594	-$5,742,540 -$1,250,208	$8,634,846
19	$16,409,019	-$6,031,667 -$1,312,722	$9,064,630
20	$17,229,402	-$6,335,209 -$1,378,352	$9,515,841
21	$18,091,008	-$6,654,003 -$1,447,281	$9,989,724
22	$18,995,649	-$6,988,721 -$1,519,652	$10,487,276
23	$19,945,137	-$7,340,031 -$1,595,611	$11,009,495
24	$20,942,643	-$7,709,108 -$1,675,411	$11,558,124
25	$21,989,526	-$8,096,455 -$1,759,162	$12,133,909
26	$23,089,410	-$8,503,412 -$1,847,153	$12,738,845
27	$24,243,654	-$8,930,482 -$1,939,492	$13,373,680
28	$25,455,882	-$9,379,007 -$2,036,471	$14,040,404
29	$26,728,812	-$9,849,991 -$2,138,305	$14,740,516
30	$28,065,162	-$10,344,440 -$2,245,213	$15,475,509