USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 2023

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $31,000,000 for a ticket purchased in New Mexico, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Tue, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$27,529$302,004
2$489,924$145,226$28,906$315,792
3$514,420$153,800$30,351$330,269
4$540,141$162,807$31,868$345,466
5$567,149$172,800$33,462$360,887
6$595,506$183,292$35,135$377,079
7$625,281$194,309$36,892$394,081
8$656,545$205,877$38,736$411,932
9$689,373$218,023$40,673$430,677
10$723,841$230,776$42,707$450,358
11$760,033$244,167$44,842$471,024
12$798,035$258,228$47,084$492,723
13$837,937$272,992$49,438$515,507
14$879,834$288,493$51,910$539,430
15$923,825$304,770$54,506$564,549
16$970,016$321,861$57,231$590,924
17$1,018,517$339,806$60,093$618,618
18$1,069,443$358,649$63,097$647,697
19$1,122,915$378,434$66,252$678,230
20$1,179,061$399,208$69,565$710,289
21$1,238,014$421,020$73,043$743,951
22$1,299,915$443,923$76,695$779,296
23$1,364,911$467,972$80,530$816,409
24$1,433,156$493,223$84,556$855,377
25$1,504,814$519,736$88,784$896,294
26$1,580,055$547,575$93,223$939,256
27$1,659,057$576,806$97,884$984,367
28$1,742,010$607,499$102,779$1,031,733
29$1,829,111$639,726$107,918$1,081,467
30$1,920,566$673,564$113,313$1,133,688
Total$31,000,000$10,361,623$1,829,002$18,809,374

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.