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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 $245,000,000 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:  Tue, Feb 26, 2019
Jackpot:$245,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,687,602$885,024$295,008$2,507,569
2$3,871,982$929,276$309,759$2,632,948
3$4,065,581$975,739$325,246$2,764,595
4$4,268,860$1,024,526$341,509$2,902,825
5$4,482,303$1,075,753$358,584$3,047,966
6$4,706,418$1,129,540$376,513$3,200,364
7$4,941,739$1,186,017$395,339$3,360,382
8$5,188,826$1,245,318$415,106$3,528,402
9$5,448,267$1,307,584$435,861$3,704,822
10$5,720,680$1,372,963$457,654$3,890,063
11$6,006,714$1,441,611$480,537$4,084,566
12$6,307,050$1,513,692$504,564$4,288,794
13$6,622,403$1,589,377$529,792$4,503,234
14$6,953,523$1,668,845$556,282$4,728,396
15$7,301,199$1,752,288$584,096$4,964,815
16$7,666,259$1,839,902$613,301$5,213,056
17$8,049,572$1,931,897$643,966$5,473,709
18$8,452,050$2,028,492$676,164$5,747,394
19$8,874,653$2,129,917$709,972$6,034,764
20$9,318,386$2,236,413$745,471$6,336,502
21$9,784,305$2,348,233$782,744$6,653,327
22$10,273,520$2,465,645$821,882$6,985,994
23$10,787,196$2,588,927$862,976$7,335,293
24$11,326,556$2,718,373$906,124$7,702,058
25$11,892,884$2,854,292$951,431$8,087,161
26$12,487,528$2,997,007$999,002$8,491,519
27$13,111,904$3,146,857$1,048,952$8,916,095
28$13,767,499$3,304,200$1,101,400$9,361,900
29$14,455,874$3,469,410$1,156,470$9,829,995
30$15,178,668$3,642,880$1,214,293$10,321,494
Total$245,000,000$58,800,000$19,600,000$166,600,000
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