USA Mega

Oregon Mega Millions Jackpot Annuity Payout Schedule for Sep 22, 1998

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $20,000,000 for a ticket purchased in 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 exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Oregon

Drawing Date:Tue, Sep 22, 1998
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 9.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$75,735$29,802$195,492
2$316,080$81,003$31,292$203,785
3$331,884$86,534$32,857$212,493
4$348,478$92,342$34,499$221,637
5$365,902$98,441$36,224$231,237
6$384,197$104,844$38,036$241,318
7$403,407$111,567$39,937$251,903
8$423,578$118,627$41,934$263,017
9$444,757$126,040$44,031$274,686
10$466,994$133,823$46,232$286,939
11$490,344$141,995$48,544$299,805
12$514,861$150,576$50,971$313,314
13$540,604$159,586$53,520$327,498
14$567,635$169,047$56,196$342,392
15$596,016$178,980$59,006$358,030
16$625,817$189,740$61,956$374,121
17$657,108$201,318$65,054$390,737
18$689,963$213,474$68,306$408,183
19$724,461$226,238$71,722$426,501
20$760,685$239,641$75,308$445,736
21$798,719$253,714$79,073$465,932
22$838,655$268,490$83,027$487,138
23$880,587$284,005$87,178$509,404
24$924,617$300,296$91,537$532,784
25$970,848$317,401$96,114$557,332
26$1,019,390$335,362$100,920$583,108
27$1,070,360$354,221$105,966$610,173
28$1,123,878$374,022$111,264$638,591
29$1,180,071$394,814$116,827$668,430
30$1,239,075$416,645$122,668$699,761
Total$20,000,000$6,198,521$1,980,001$11,821,477

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.