The jackpot for the MEGA Millions draw on Tue Jun 18, 2024, is projected to be $61 Million, with an option for a cash payout of $29.3 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Oregon residents, the state will deduct 8% from your lottery earnings.
| Oregon MEGA Millions Jackpot/Cash Option for Tue Jun 18, 2024 |
|---|
| Draw Date | Tue Jun 18, 2024 | | Projected Jackpot | $61,000,000 | | Cash Value | $29,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,300,000 | | Federal Tax(24%) | $7,032,000 | | Additional Federal Tax | $3,769,330 | | State Tax(8%) | $2,344,000 | | Net Lumpsum Payment | $16,154,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$918,111 |
$300,031
$73,449 |
$544,631 |
| 2 |
$964,044 |
$317,027
$77,124 |
$569,893 |
| 3 |
$1,012,234 |
$334,857
$80,979 |
$596,398 |
| 4 |
$1,062,864 |
$353,590
$85,029 |
$624,245 |
| 5 |
$1,115,995 |
$373,249
$89,280 |
$653,466 |
| 6 |
$1,171,810 |
$393,900
$93,745 |
$684,165 |
| 7 |
$1,230,370 |
$415,567
$98,430 |
$716,373 |
| 8 |
$1,291,919 |
$438,340
$103,354 |
$750,225 |
| 9 |
$1,356,518 |
$462,242
$108,521 |
$785,755 |
| 10 |
$1,424,350 |
$487,340
$113,948 |
$823,062 |
| 11 |
$1,495,537 |
$513,679
$119,643 |
$862,215 |
| 12 |
$1,570,323 |
$541,350
$125,626 |
$903,347 |
| 13 |
$1,648,830 |
$570,397
$131,906 |
$946,527 |
| 14 |
$1,731,302 |
$600,912
$138,504 |
$991,886 |
| 15 |
$1,817,861 |
$632,939
$145,429 |
$1,039,493 |
| 16 |
$1,908,751 |
$666,568
$152,700 |
$1,089,483 |
| 17 |
$2,004,155 |
$701,868
$160,332 |
$1,141,955 |
| 18 |
$2,104,378 |
$738,950
$168,350 |
$1,197,078 |
| 19 |
$2,209,603 |
$777,883
$176,768 |
$1,254,952 |
| 20 |
$2,320,074 |
$818,758
$185,606 |
$1,315,710 |
| 21 |
$2,436,096 |
$861,686
$194,888 |
$1,379,522 |
| 22 |
$2,557,913 |
$906,758
$204,633 |
$1,446,522 |
| 23 |
$2,685,769 |
$954,065
$214,862 |
$1,516,842 |
| 24 |
$2,820,091 |
$1,003,764
$225,607 |
$1,590,720 |
| 25 |
$2,961,062 |
$1,055,923
$236,885 |
$1,668,254 |
| 26 |
$3,109,170 |
$1,110,723
$248,734 |
$1,749,713 |
| 27 |
$3,264,598 |
$1,168,232
$261,168 |
$1,835,198 |
| 28 |
$3,427,834 |
$1,228,629
$274,227 |
$1,924,978 |
| 29 |
$3,599,244 |
$1,292,051
$287,940 |
$2,019,253 |
| 30 |
$3,779,194 |
$1,358,632
$302,336 |
$2,118,226 |
|
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