The jackpot for the MEGA Millions draw on Fri Jun 28, 2024, is projected to be $116 Million, with an option for a cash payout of $55.4 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 Jun 28, 2024 |
|---|
| Draw Date | Fri Jun 28, 2024 | | Projected Jackpot | $116,000,000 | | Cash Value | $55,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $55,400,000 | | Federal Tax(24%) | $13,296,000 | | Additional Federal Tax | $7,162,330 | | State Tax(8%) | $4,432,000 | | Net Lumpsum Payment | $30,509,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,745,916 |
$606,319
$139,673 |
$999,924 |
| 2 |
$1,833,264 |
$638,638
$146,661 |
$1,047,965 |
| 3 |
$1,924,904 |
$672,545
$153,992 |
$1,098,367 |
| 4 |
$2,021,184 |
$708,168
$161,695 |
$1,151,321 |
| 5 |
$2,122,220 |
$745,552
$169,778 |
$1,206,890 |
| 6 |
$2,228,360 |
$784,824
$178,269 |
$1,265,267 |
| 7 |
$2,339,720 |
$826,027
$187,178 |
$1,326,515 |
| 8 |
$2,456,764 |
$869,333
$196,541 |
$1,390,890 |
| 9 |
$2,579,608 |
$914,785
$206,369 |
$1,458,454 |
| 10 |
$2,708,600 |
$962,512
$216,688 |
$1,529,400 |
| 11 |
$2,843,972 |
$1,012,600
$227,518 |
$1,603,854 |
| 12 |
$2,986,188 |
$1,065,220
$238,895 |
$1,682,073 |
| 13 |
$3,135,480 |
$1,120,458
$250,838 |
$1,764,184 |
| 14 |
$3,292,312 |
$1,178,486
$263,385 |
$1,850,441 |
| 15 |
$3,456,916 |
$1,239,389
$276,553 |
$1,940,974 |
| 16 |
$3,629,756 |
$1,303,340
$290,380 |
$2,036,036 |
| 17 |
$3,811,180 |
$1,370,467
$304,894 |
$2,135,819 |
| 18 |
$4,001,768 |
$1,440,985
$320,141 |
$2,240,642 |
| 19 |
$4,201,868 |
$1,515,022
$336,149 |
$2,350,697 |
| 20 |
$4,411,944 |
$1,592,750
$352,956 |
$2,466,238 |
| 21 |
$4,632,576 |
$1,674,384
$370,606 |
$2,587,586 |
| 22 |
$4,864,228 |
$1,760,095
$389,138 |
$2,714,995 |
| 23 |
$5,107,364 |
$1,850,055
$408,589 |
$2,848,720 |
| 24 |
$5,362,796 |
$1,944,565
$429,024 |
$2,989,207 |
| 25 |
$5,630,872 |
$2,043,753
$450,470 |
$3,136,649 |
| 26 |
$5,912,520 |
$2,147,963
$473,002 |
$3,291,555 |
| 27 |
$6,208,088 |
$2,257,323
$496,647 |
$3,454,118 |
| 28 |
$6,518,504 |
$2,372,177
$521,480 |
$3,624,847 |
| 29 |
$6,844,464 |
$2,492,782
$547,557 |
$3,804,125 |
| 30 |
$7,186,664 |
$2,619,396
$574,933 |
$3,992,335 |
|
|
