The jackpot for the MEGA Millions draw on Fri Dec 6, 2024, is projected to be $579 Million, with an option for a cash payout of $276.6 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 Fri Dec 6, 2024 |
|---|
| Draw Date | Fri Dec 6, 2024 | | Projected Jackpot | $579,000,000 | | Cash Value | $276,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $276,600,000 | | Federal Tax(24%) | $66,384,000 | | Additional Federal Tax | $35,918,330 | | State Tax(8%) | $22,128,000 | | Net Lumpsum Payment | $152,169,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,714,529 |
$3,184,706
$697,162 |
$4,832,661 |
| 2 |
$9,150,516 |
$3,346,021
$732,041 |
$5,072,454 |
| 3 |
$9,607,926 |
$3,515,263
$768,634 |
$5,324,029 |
| 4 |
$10,088,496 |
$3,693,074
$807,080 |
$5,588,342 |
| 5 |
$10,592,805 |
$3,879,668
$847,424 |
$5,865,713 |
| 6 |
$11,122,590 |
$4,075,689
$889,807 |
$6,157,094 |
| 7 |
$11,678,430 |
$4,281,349
$934,274 |
$6,462,807 |
| 8 |
$12,262,641 |
$4,497,508
$981,011 |
$6,784,122 |
| 9 |
$12,875,802 |
$4,724,377
$1,030,064 |
$7,121,361 |
| 10 |
$13,519,650 |
$4,962,601
$1,081,572 |
$7,475,477 |
| 11 |
$14,195,343 |
$5,212,607
$1,135,627 |
$7,847,109 |
| 12 |
$14,905,197 |
$5,475,253
$1,192,416 |
$8,237,528 |
| 13 |
$15,650,370 |
$5,750,967
$1,252,030 |
$8,647,373 |
| 14 |
$16,433,178 |
$6,040,606
$1,314,654 |
$9,077,918 |
| 15 |
$17,254,779 |
$6,344,599
$1,380,382 |
$9,529,798 |
| 16 |
$18,117,489 |
$6,663,801
$1,449,399 |
$10,004,289 |
| 17 |
$19,023,045 |
$6,998,857
$1,521,844 |
$10,502,344 |
| 18 |
$19,974,342 |
$7,350,837
$1,597,947 |
$11,025,558 |
| 19 |
$20,973,117 |
$7,720,384
$1,677,849 |
$11,574,884 |
| 20 |
$22,021,686 |
$8,108,354
$1,761,735 |
$12,151,597 |
| 21 |
$23,122,944 |
$8,515,820
$1,849,836 |
$12,757,288 |
| 22 |
$24,279,207 |
$8,943,637
$1,942,337 |
$13,393,233 |
| 23 |
$25,492,791 |
$9,392,663
$2,039,423 |
$14,060,705 |
| 24 |
$26,767,749 |
$9,864,398
$2,141,420 |
$14,761,931 |
| 25 |
$28,105,818 |
$10,359,483
$2,248,465 |
$15,497,870 |
| 26 |
$29,511,630 |
$10,879,633
$2,360,930 |
$16,271,067 |
| 27 |
$30,986,922 |
$11,425,492
$2,478,954 |
$17,082,476 |
| 28 |
$32,536,326 |
$11,998,771
$2,602,906 |
$17,934,649 |
| 29 |
$34,163,316 |
$12,600,757
$2,733,065 |
$18,829,494 |
| 30 |
$35,871,366 |
$13,232,736
$2,869,709 |
$19,768,921 |
|
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