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Mega Millions Annuity Jackpot Analysis for Oregon (Oct. 16, 2018 Drawing)

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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 $667,000,000 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:  Oct. 16, 2018
Jackpot:$667,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,039,307$2,409,434$803,145$6,826,729
2$10,541,273$2,529,905$843,302$7,168,065
3$11,068,336$2,656,401$885,467$7,526,469
4$11,621,753$2,789,221$929,740$7,902,792
5$12,202,840$2,928,682$976,227$8,297,931
6$12,812,983$3,075,116$1,025,039$8,712,828
7$13,453,632$3,228,872$1,076,291$9,148,470
8$14,126,314$3,390,315$1,130,105$9,605,893
9$14,832,629$3,559,831$1,186,610$10,086,188
10$15,574,261$3,737,823$1,245,941$10,590,497
11$16,352,974$3,924,714$1,308,238$11,120,022
12$17,170,622$4,120,949$1,373,650$11,676,023
13$18,029,153$4,326,997$1,442,332$12,259,824
14$18,930,611$4,543,347$1,514,449$12,872,816
15$19,877,142$4,770,514$1,590,171$13,516,456
16$20,870,999$5,009,040$1,669,680$14,192,279
17$21,914,548$5,259,492$1,753,164$14,901,893
18$23,010,276$5,522,466$1,840,822$15,646,988
19$24,160,790$5,798,590$1,932,863$16,429,337
20$25,368,829$6,088,519$2,029,506$17,250,804
21$26,637,271$6,392,945$2,130,982$18,113,344
22$27,969,134$6,712,592$2,237,531$19,019,011
23$29,367,591$7,048,222$2,349,407$19,969,962
24$30,835,970$7,400,633$2,466,878$20,968,460
25$32,377,769$7,770,665$2,590,222$22,016,883
26$33,996,658$8,159,198$2,719,733$23,117,727
27$35,696,491$8,567,158$2,855,719$24,273,614
28$37,481,315$8,995,516$2,998,505$25,487,294
29$39,355,381$9,445,291$3,148,430$26,761,659
30$41,323,150$9,917,556$3,305,852$28,099,742
Total$667,000,001$160,080,000$53,360,000$453,560,001
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