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Mega Millions Annuity Jackpot Analysis for Oregon (Apr. 3, 2020 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 $121,000,000 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:  Apr. 3, 2020
Jackpot:$121,000,000
Federal Tax:  24%
State Tax:8.00%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,821,224$437,094$145,698$1,238,432
2$1,912,285$458,948$152,983$1,300,354
3$2,007,899$481,896$160,632$1,365,371
4$2,108,294$505,991$168,664$1,433,640
5$2,213,709$531,290$177,097$1,505,322
6$2,324,394$557,855$185,952$1,580,588
7$2,440,614$585,747$195,249$1,659,617
8$2,562,645$615,035$205,012$1,742,598
9$2,690,777$645,786$215,262$1,829,728
10$2,825,316$678,076$226,025$1,921,215
11$2,966,581$711,980$237,327$2,017,275
12$3,114,911$747,579$249,193$2,118,139
13$3,270,656$784,957$261,652$2,224,046
14$3,434,189$824,205$274,735$2,335,248
15$3,605,898$865,416$288,472$2,452,011
16$3,786,193$908,686$302,895$2,574,611
17$3,975,503$954,121$318,040$2,703,342
18$4,174,278$1,001,827$333,942$2,838,509
19$4,382,992$1,051,918$350,639$2,980,434
20$4,602,141$1,104,514$368,171$3,129,456
21$4,832,248$1,159,740$386,580$3,285,929
22$5,073,861$1,217,727$405,909$3,450,225
23$5,327,554$1,278,613$426,204$3,622,737
24$5,593,932$1,342,544$447,515$3,803,874
25$5,873,628$1,409,671$469,890$3,994,067
26$6,167,310$1,480,154$493,385$4,193,771
27$6,475,675$1,554,162$518,054$4,403,459
28$6,799,459$1,631,870$543,957$4,623,632
29$7,139,432$1,713,464$571,155$4,854,814
30$7,496,404$1,799,137$599,712$5,097,554
Total$121,000,000$29,040,000$9,680,000$82,280,000
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