The jackpot for the MEGA Millions draw on Tue Jul 21, 2026, is projected to be $707 Million, with an option for a cash payout of $307.7 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Oregon residents, the state will deduct 8% from your lottery earnings.
| Oregon MEGA Millions Jackpot/Cash Option for Tue Jul 21, 2026 |
|---|
| Draw Date | Tue Jul 21, 2026 | | Projected Jackpot | $707,000,000 | | Cash Value | $307,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $307,700,000 | | Federal Tax(24%) | $73,848,000 | | Additional Federal Tax | $39,961,330 | | State Tax(8%) | $24,616,000 | | Net Lumpsum Payment | $169,274,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,641,057 |
$3,897,521
$851,285 |
$5,892,251 |
| 2 |
$11,173,428 |
$4,094,499
$893,874 |
$6,185,055 |
| 3 |
$11,731,958 |
$4,301,155
$938,557 |
$6,492,246 |
| 4 |
$12,318,768 |
$4,518,275
$985,501 |
$6,814,992 |
| 5 |
$12,934,565 |
$4,746,119
$1,034,765 |
$7,153,681 |
| 6 |
$13,581,470 |
$4,985,474
$1,086,518 |
$7,509,478 |
| 7 |
$14,260,190 |
$5,236,601
$1,140,815 |
$7,882,774 |
| 8 |
$14,973,553 |
$5,500,545
$1,197,884 |
$8,275,124 |
| 9 |
$15,722,266 |
$5,777,569
$1,257,781 |
$8,686,916 |
| 10 |
$16,508,450 |
$6,068,457
$1,320,676 |
$9,119,317 |
| 11 |
$17,333,519 |
$6,373,732
$1,386,682 |
$9,573,105 |
| 12 |
$18,200,301 |
$6,694,442
$1,456,024 |
$10,049,835 |
| 13 |
$19,110,210 |
$7,031,108
$1,528,817 |
$10,550,285 |
| 14 |
$20,066,074 |
$7,384,778
$1,605,286 |
$11,076,010 |
| 15 |
$21,069,307 |
$7,755,974
$1,685,545 |
$11,627,788 |
| 16 |
$22,122,737 |
$8,145,743
$1,769,819 |
$12,207,175 |
| 17 |
$23,228,485 |
$8,554,870
$1,858,279 |
$12,815,336 |
| 18 |
$24,390,086 |
$8,984,662
$1,951,207 |
$13,454,217 |
| 19 |
$25,609,661 |
$9,435,905
$2,048,773 |
$14,124,983 |
| 20 |
$26,890,038 |
$9,909,644
$2,151,203 |
$14,829,191 |
| 21 |
$28,234,752 |
$10,407,189
$2,258,780 |
$15,568,783 |
| 22 |
$29,646,631 |
$10,929,584
$2,371,730 |
$16,345,317 |
| 23 |
$31,128,503 |
$11,477,876
$2,490,280 |
$17,160,347 |
| 24 |
$32,685,317 |
$12,053,898
$2,614,825 |
$18,016,594 |
| 25 |
$34,319,194 |
$12,658,432
$2,745,536 |
$18,915,226 |
| 26 |
$36,035,790 |
$13,293,573
$2,882,863 |
$19,859,354 |
| 27 |
$37,837,226 |
$13,960,104
$3,026,978 |
$20,850,144 |
| 28 |
$39,729,158 |
$14,660,119
$3,178,333 |
$21,890,706 |
| 29 |
$41,715,828 |
$15,395,187
$3,337,266 |
$22,983,375 |
| 30 |
$43,801,478 |
$16,166,877
$3,504,118 |
$24,130,483 |
|
|
