Oregon $1.3B lottery winner. How it impacts.

By Taxpayers Association of Oregon
OregonWatchdog.com

The $1.3 billion Powerball Lottery winner is from Oregon.

Since most lottery winners choose a direct payout (at 50% penalty, instead of 30 years of annual payouts) the winning sum is $621 million.

The Federal Government will take over $229 million of that $621 million in Federal taxes.

Oregon, which has the nation’s #5 highest income tax rate in the nation, will take 9.9%. That is $61 million in taxes.

If the person lives in Portland you can likely add on another $10 million or so in combined local taxes.

We will soon know more since lottery winners for this game are public record.

$61 million is a lot for tax revenue.

Then again …

Since Kotek discovered $500 million in unspent surplus this year, it seems like a lot less.

Also, Oregon schools are sitting on $541 million in unspent Covid funds this year.

So, in a way, the lottery winner is punished MORE for living in Oregon and his tax impact will be LESS because Oregon is awash in disposable tax revenue.

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