The jackpot for the MEGA Millions draw on Fri Jan 17, 2025, is projected to be $113 Million, with an option for a cash payout of $49.2 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 Jan 17, 2025 |
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Draw Date | Fri Jan 17, 2025 | Projected Jackpot | $113,000,000 | Cash Value | $49,200,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $49,200,000 | Federal Tax(24%) | $11,808,000 | Additional Federal Tax | $6,356,330 | State Tax(8%) | $3,936,000 | Net Lumpsum Payment | $27,099,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,700,763 |
$589,613 $136,061 |
$975,089 |
2 |
$1,785,852 |
$621,096 $142,868 |
$1,021,888 |
3 |
$1,875,122 |
$654,126 $150,010 |
$1,070,986 |
4 |
$1,968,912 |
$688,828 $157,513 |
$1,122,571 |
5 |
$2,067,335 |
$725,244 $165,387 |
$1,176,704 |
6 |
$2,170,730 |
$763,500 $173,658 |
$1,233,572 |
7 |
$2,279,210 |
$803,638 $182,337 |
$1,293,235 |
8 |
$2,393,227 |
$845,824 $191,458 |
$1,355,945 |
9 |
$2,512,894 |
$890,101 $201,032 |
$1,421,761 |
10 |
$2,638,550 |
$936,594 $211,084 |
$1,490,872 |
11 |
$2,770,421 |
$985,386 $221,634 |
$1,563,401 |
12 |
$2,908,959 |
$1,036,645 $232,717 |
$1,639,597 |
13 |
$3,054,390 |
$1,090,455 $244,351 |
$1,719,584 |
14 |
$3,207,166 |
$1,146,982 $256,573 |
$1,803,611 |
15 |
$3,367,513 |
$1,206,310 $269,401 |
$1,891,802 |
16 |
$3,535,883 |
$1,268,607 $282,871 |
$1,984,405 |
17 |
$3,712,615 |
$1,333,998 $297,009 |
$2,081,608 |
18 |
$3,898,274 |
$1,402,692 $311,862 |
$2,183,720 |
19 |
$4,093,199 |
$1,474,814 $327,456 |
$2,290,929 |
20 |
$4,297,842 |
$1,550,532 $343,827 |
$2,403,483 |
21 |
$4,512,768 |
$1,630,055 $361,021 |
$2,521,692 |
22 |
$4,738,429 |
$1,713,549 $379,074 |
$2,645,806 |
23 |
$4,975,277 |
$1,801,183 $398,022 |
$2,776,072 |
24 |
$5,224,103 |
$1,893,248 $417,928 |
$2,912,927 |
25 |
$5,485,246 |
$1,989,871 $438,820 |
$3,056,555 |
26 |
$5,759,610 |
$2,091,386 $460,769 |
$3,207,455 |
27 |
$6,047,534 |
$2,197,918 $483,803 |
$3,365,813 |
28 |
$6,349,922 |
$2,309,802 $507,994 |
$3,532,126 |
29 |
$6,667,452 |
$2,427,288 $533,396 |
$3,706,768 |
30 |
$7,000,802 |
$2,550,627 $560,064 |
$3,890,111 |
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