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Mega Millions Annuity Jackpot Analysis for Oregon (Oct. 30, 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 $45,000,000 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. 30, 2018
Jackpot:$45,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$677,315$162,555$54,185$460,574
2$711,180$170,683$56,894$483,603
3$746,739$179,217$59,739$507,783
4$784,076$188,178$62,726$533,172
5$823,280$197,587$65,862$559,830
6$864,444$207,467$69,156$587,822
7$907,666$217,840$72,613$617,213
8$953,050$228,732$76,244$648,074
9$1,000,702$240,169$80,056$680,477
10$1,050,737$252,177$84,059$714,501
11$1,103,274$264,786$88,262$750,226
12$1,158,438$278,025$92,675$787,738
13$1,216,360$291,926$97,309$827,125
14$1,277,178$306,523$102,174$868,481
15$1,341,037$321,849$107,283$911,905
16$1,408,088$337,941$112,647$957,500
17$1,478,493$354,838$118,279$1,005,375
18$1,552,417$372,580$124,193$1,055,644
19$1,630,038$391,209$130,403$1,108,426
20$1,711,540$410,770$136,923$1,163,847
21$1,797,117$431,308$143,769$1,222,040
22$1,886,973$452,874$150,958$1,283,142
23$1,981,322$475,517$158,506$1,347,299
24$2,080,388$499,293$166,431$1,414,664
25$2,184,407$524,258$174,753$1,485,397
26$2,293,628$550,471$183,490$1,559,667
27$2,408,309$577,994$192,665$1,637,650
28$2,528,724$606,894$202,298$1,719,533
29$2,655,161$637,239$212,413$1,805,509
30$2,787,919$669,100$223,033$1,895,785
Total$45,000,000$10,800,000$3,600,000$30,600,000
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