The jackpot for the MEGA Millions draw on Fri Jun 28, 2024, is projected to be $116 Million, with an option for a cash payout of $55.4 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 Jun 28, 2024 |
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Draw Date | Fri Jun 28, 2024 | Projected Jackpot | $116,000,000 | Cash Value | $55,400,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $55,400,000 | Federal Tax(24%) | $13,296,000 | Additional Federal Tax | $7,162,330 | State Tax(8%) | $4,432,000 | Net Lumpsum Payment | $30,509,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,745,916 |
$606,319 $139,673 |
$999,924 |
2 |
$1,833,264 |
$638,638 $146,661 |
$1,047,965 |
3 |
$1,924,904 |
$672,545 $153,992 |
$1,098,367 |
4 |
$2,021,184 |
$708,168 $161,695 |
$1,151,321 |
5 |
$2,122,220 |
$745,552 $169,778 |
$1,206,890 |
6 |
$2,228,360 |
$784,824 $178,269 |
$1,265,267 |
7 |
$2,339,720 |
$826,027 $187,178 |
$1,326,515 |
8 |
$2,456,764 |
$869,333 $196,541 |
$1,390,890 |
9 |
$2,579,608 |
$914,785 $206,369 |
$1,458,454 |
10 |
$2,708,600 |
$962,512 $216,688 |
$1,529,400 |
11 |
$2,843,972 |
$1,012,600 $227,518 |
$1,603,854 |
12 |
$2,986,188 |
$1,065,220 $238,895 |
$1,682,073 |
13 |
$3,135,480 |
$1,120,458 $250,838 |
$1,764,184 |
14 |
$3,292,312 |
$1,178,486 $263,385 |
$1,850,441 |
15 |
$3,456,916 |
$1,239,389 $276,553 |
$1,940,974 |
16 |
$3,629,756 |
$1,303,340 $290,380 |
$2,036,036 |
17 |
$3,811,180 |
$1,370,467 $304,894 |
$2,135,819 |
18 |
$4,001,768 |
$1,440,985 $320,141 |
$2,240,642 |
19 |
$4,201,868 |
$1,515,022 $336,149 |
$2,350,697 |
20 |
$4,411,944 |
$1,592,750 $352,956 |
$2,466,238 |
21 |
$4,632,576 |
$1,674,384 $370,606 |
$2,587,586 |
22 |
$4,864,228 |
$1,760,095 $389,138 |
$2,714,995 |
23 |
$5,107,364 |
$1,850,055 $408,589 |
$2,848,720 |
24 |
$5,362,796 |
$1,944,565 $429,024 |
$2,989,207 |
25 |
$5,630,872 |
$2,043,753 $450,470 |
$3,136,649 |
26 |
$5,912,520 |
$2,147,963 $473,002 |
$3,291,555 |
27 |
$6,208,088 |
$2,257,323 $496,647 |
$3,454,118 |
28 |
$6,518,504 |
$2,372,177 $521,480 |
$3,624,847 |
29 |
$6,844,464 |
$2,492,782 $547,557 |
$3,804,125 |
30 |
$7,186,664 |
$2,619,396 $574,933 |
$3,992,335 |
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