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Mega Millions Annuity Jackpot Analysis for Oregon

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The Mega Millions annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $31,000,000 would be for a resident of Oregon, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Oregon

Drawing Date:  Fri, Aug 14, 2020
Jackpot:$31,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$111,983$37,328$317,284
2$489,924$117,582$39,194$333,148
3$514,420$123,461$41,154$349,806
4$540,141$129,634$43,211$367,296
5$567,149$136,116$45,372$385,661
6$595,506$142,921$47,640$404,944
7$625,281$150,068$50,023$425,191
8$656,545$157,571$52,524$446,451
9$689,373$165,449$55,150$468,773
10$723,841$173,722$57,907$492,212
11$760,033$182,408$60,803$516,823
12$798,035$191,528$63,843$542,664
13$837,937$201,105$67,035$569,797
14$879,834$211,160$70,387$598,287
15$923,825$221,718$73,906$628,201
16$970,016$232,804$77,601$659,611
17$1,018,517$244,444$81,481$692,592
18$1,069,443$256,666$85,555$727,221
19$1,122,915$269,500$89,833$763,582
20$1,179,061$282,975$94,325$801,762
21$1,238,014$297,123$99,041$841,850
22$1,299,915$311,980$103,993$883,942
23$1,364,911$327,579$109,193$928,139
24$1,433,156$343,957$114,652$974,546
25$1,504,814$361,155$120,385$1,023,273
26$1,580,055$379,213$126,404$1,074,437
27$1,659,057$398,174$132,725$1,128,159
28$1,742,010$418,082$139,361$1,184,567
29$1,829,111$438,987$146,329$1,243,795
30$1,920,566$460,936$153,645$1,305,985
Total$31,000,000$7,440,000$2,480,000$21,080,000
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