The jackpot for the MEGA Millions draw on Tue Oct 15, 2024, is projected to be $169 Million, with an option for a cash payout of $80 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 Oct 15, 2024 |
|---|
| Draw Date | Tue Oct 15, 2024 | | Projected Jackpot | $169,000,000 | | Cash Value | $80,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $80,000,000 | | Federal Tax(24%) | $19,200,000 | | Additional Federal Tax | $10,360,330 | | State Tax(8%) | $6,400,000 | | Net Lumpsum Payment | $44,039,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,543,619 |
$901,469
$203,490 |
$1,438,660 |
| 2 |
$2,670,876 |
$948,555
$213,670 |
$1,508,651 |
| 3 |
$2,804,386 |
$997,953
$224,351 |
$1,582,082 |
| 4 |
$2,944,656 |
$1,049,853
$235,572 |
$1,659,231 |
| 5 |
$3,091,855 |
$1,104,317
$247,348 |
$1,740,190 |
| 6 |
$3,246,490 |
$1,161,532
$259,719 |
$1,825,239 |
| 7 |
$3,408,730 |
$1,221,560
$272,698 |
$1,914,472 |
| 8 |
$3,579,251 |
$1,284,653
$286,340 |
$2,008,258 |
| 9 |
$3,758,222 |
$1,350,873
$300,658 |
$2,106,691 |
| 10 |
$3,946,150 |
$1,420,406
$315,692 |
$2,210,052 |
| 11 |
$4,143,373 |
$1,493,378
$331,470 |
$2,318,525 |
| 12 |
$4,350,567 |
$1,570,040
$348,045 |
$2,432,482 |
| 13 |
$4,568,070 |
$1,650,516
$365,446 |
$2,552,108 |
| 14 |
$4,796,558 |
$1,735,057
$383,725 |
$2,677,776 |
| 15 |
$5,036,369 |
$1,823,787
$402,910 |
$2,809,672 |
| 16 |
$5,288,179 |
$1,916,957
$423,054 |
$2,948,168 |
| 17 |
$5,552,495 |
$2,014,754
$444,200 |
$3,093,541 |
| 18 |
$5,830,162 |
$2,117,490
$466,413 |
$3,246,259 |
| 19 |
$6,121,687 |
$2,225,355
$489,735 |
$3,406,597 |
| 20 |
$6,427,746 |
$2,338,596
$514,220 |
$3,574,930 |
| 21 |
$6,749,184 |
$2,457,528
$539,935 |
$3,751,721 |
| 22 |
$7,086,677 |
$2,582,401
$566,934 |
$3,937,342 |
| 23 |
$7,440,901 |
$2,713,464
$595,272 |
$4,132,165 |
| 24 |
$7,813,039 |
$2,851,155
$625,043 |
$4,336,841 |
| 25 |
$8,203,598 |
$2,995,662
$656,288 |
$4,551,648 |
| 26 |
$8,613,930 |
$3,147,484
$689,114 |
$4,777,332 |
| 27 |
$9,044,542 |
$3,306,811
$723,563 |
$5,014,168 |
| 28 |
$9,496,786 |
$3,474,141
$759,743 |
$5,262,902 |
| 29 |
$9,971,676 |
$3,649,851
$797,734 |
$5,524,091 |
| 30 |
$10,470,226 |
$3,834,314
$837,618 |
$5,798,294 |
|
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