Jackpot Analysis Oregon Mega Millions

Jackpot Analysis for Oregon Mega Millions
The jackpot for the MEGA Millions draw on Fri Jan 31, 2025, is projected to be $59 Million, with an option for a cash payout of $26.5 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 Fri Jan 31, 2025
Draw DateFri Jan 31, 2025
Projected Jackpot$59,000,000
Cash Value$26,500,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$26,500,000
Federal Tax(24%)$6,360,000
Additional Federal Tax$3,405,330
State Tax(8%)$2,120,000
Net Lumpsum Payment$14,614,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $888,009 $288,894
$71,041
$528,074
2 $932,436 $305,332
$74,595
$552,509
3 $979,046 $322,577
$78,324
$578,145
4 $1,028,016 $340,696
$82,241
$605,079
5 $1,079,405 $359,710
$86,352
$633,343
6 $1,133,390 $379,685
$90,671
$663,034
7 $1,190,030 $400,641
$95,202
$694,187
8 $1,249,561 $422,668
$99,965
$726,928
9 $1,312,042 $445,786
$104,963
$761,293
10 $1,377,650 $470,061
$110,212
$797,377
11 $1,446,503 $495,536
$115,720
$835,247
12 $1,518,837 $522,300
$121,507
$875,030
13 $1,594,770 $550,395
$127,582
$916,793
14 $1,674,538 $579,909
$133,963
$960,666
15 $1,758,259 $610,886
$140,661
$1,006,712
16 $1,846,169 $643,413
$147,694
$1,055,062
17 $1,938,445 $677,555
$155,076
$1,105,814
18 $2,035,382 $713,422
$162,831
$1,159,129
19 $2,137,157 $751,078
$170,973
$1,215,106
20 $2,244,006 $790,613
$179,520
$1,273,873
21 $2,356,224 $832,133
$188,498
$1,335,593
22 $2,474,047 $875,728
$197,924
$1,400,395
23 $2,597,711 $921,483
$207,817
$1,468,411
24 $2,727,629 $969,553
$218,210
$1,539,866
25 $2,863,978 $1,020,002
$229,118
$1,614,858
26 $3,007,230 $1,073,005
$240,578
$1,693,647
27 $3,157,562 $1,128,628
$252,605
$1,776,329
28 $3,315,446 $1,187,045
$265,236
$1,863,165
29 $3,481,236 $1,248,388
$278,499
$1,954,349
30 $3,655,286 $1,312,786
$292,423
$2,050,077