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Mega Millions Annuity Jackpot Analysis for Oregon (Dec. 21, 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 $305,000,000 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:  Dec. 21, 2018
Jackpot:$305,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,590,688$1,101,765$367,255$3,121,668
2$4,820,222$1,156,853$385,618$3,277,751
3$5,061,233$1,214,696$404,899$3,441,639
4$5,314,295$1,275,431$425,144$3,613,721
5$5,580,009$1,339,202$446,401$3,794,406
6$5,859,010$1,406,162$468,721$3,984,127
7$6,151,961$1,476,471$492,157$4,183,333
8$6,459,559$1,550,294$516,765$4,392,500
9$6,782,537$1,627,809$542,603$4,612,125
10$7,121,663$1,709,199$569,733$4,842,731
11$7,477,747$1,794,659$598,220$5,084,868
12$7,851,634$1,884,392$628,131$5,339,111
13$8,244,216$1,978,612$659,537$5,606,067
14$8,656,426$2,077,542$692,514$5,886,370
15$9,089,248$2,181,419$727,140$6,180,688
16$9,543,710$2,290,490$763,497$6,489,723
17$10,020,895$2,405,015$801,672$6,814,209
18$10,521,940$2,525,266$841,755$7,154,919
19$11,048,037$2,651,529$883,843$7,512,665
20$11,600,439$2,784,105$928,035$7,888,299
21$12,180,461$2,923,311$974,437$8,282,714
22$12,789,484$3,069,476$1,023,159$8,696,849
23$13,428,958$3,222,950$1,074,317$9,131,692
24$14,100,406$3,384,097$1,128,032$9,588,276
25$14,805,427$3,553,302$1,184,434$10,067,690
26$15,545,698$3,730,968$1,243,656$10,571,075
27$16,322,983$3,917,516$1,305,839$11,099,628
28$17,139,132$4,113,392$1,371,131$11,654,610
29$17,996,089$4,319,061$1,439,687$12,237,340
30$18,895,893$4,535,014$1,511,671$12,849,207
Total$305,000,001$73,200,000$24,400,000$207,400,000
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