Oregon Lottery

ORLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Jan 22, 2025 is estimated to be $31 Million, with a cash option of 13.8 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 Wed Jan 22, 2025

Draw Date	Jackpot	Cash Option
Wed Jan 22, 2025	$31,000,000	$13,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,800,000
Federal Tax(24%)	$3,312,000
Additional Federal Tax	$1,754,330
State Tax(8%)	$1,104,000
Net Lumpsum Payment	$7,629,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$466,581	-$132,965 -$37,326	$296,290
2	$489,924	-$141,602 -$39,194	$309,128
3	$514,414	-$150,664 -$41,153	$322,597
4	$540,144	-$160,184 -$43,212	$336,748
5	$567,145	-$170,174 -$45,372	$351,599
6	$595,510	-$180,669 -$47,641	$367,200
7	$625,270	-$191,680 -$50,022	$383,568
8	$656,549	-$203,254 -$52,524	$400,771
9	$689,378	-$215,400 -$55,150	$418,828
10	$723,850	-$228,155 -$57,908	$437,787
11	$760,027	-$241,540 -$60,802	$457,685
12	$798,033	-$255,603 -$63,843	$478,587
13	$837,930	-$270,364 -$67,034	$500,532
14	$879,842	-$285,872 -$70,387	$523,583
15	$923,831	-$302,148 -$73,906	$547,777
16	$970,021	-$319,238 -$77,602	$573,181
17	$1,018,505	-$337,177 -$81,480	$599,848
18	$1,069,438	-$356,022 -$85,555	$627,861
19	$1,122,913	-$375,808 -$89,833	$657,272
20	$1,179,054	-$396,580 -$94,324	$688,150
21	$1,238,016	-$418,396 -$99,041	$720,579
22	$1,299,923	-$441,302 -$103,994	$754,627
23	$1,364,899	-$465,343 -$109,192	$790,364
24	$1,433,161	-$490,600 -$114,653	$827,908
25	$1,504,802	-$517,107 -$120,384	$867,311
26	$1,580,070	-$544,956 -$126,406	$908,708
27	$1,659,058	-$574,182 -$132,725	$952,151
28	$1,742,014	-$604,876 -$139,361	$997,777
29	$1,829,124	-$637,106 -$146,330	$1,045,688
30	$1,920,574	-$670,943 -$153,646	$1,095,985