USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Feb 7, 1997

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2024 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 $9,000,000 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 money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Fri, Feb 7, 1997
Jackpot:$9,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$135,463$25,554$7,992$101,917
2$142,236$27,179$8,392$106,665
3$149,348$28,886$8,812$111,650
4$156,815$30,678$9,252$116,885
5$164,656$32,560$9,715$122,381
6$172,889$34,536$10,200$128,153
7$181,533$36,610$10,710$134,212
8$190,610$38,789$11,246$140,575
9$200,140$41,731$11,808$146,601
10$210,147$44,934$12,399$152,815
11$220,655$48,296$13,019$159,340
12$231,688$51,827$13,670$166,191
13$243,272$55,534$14,353$173,385
14$255,436$59,777$15,071$180,588
15$268,207$64,247$15,824$188,136
16$281,618$68,941$16,615$196,061
17$295,699$73,869$17,446$204,383
18$310,483$79,044$18,319$213,121
19$326,008$84,477$19,234$222,296
20$342,308$90,183$20,196$231,929
21$359,423$96,173$21,206$242,045
22$377,395$102,463$22,266$252,665
23$396,264$109,067$23,380$263,817
24$416,078$116,002$24,549$275,527
25$436,881$123,283$25,776$287,822
26$458,726$130,929$27,065$300,732
27$481,662$138,956$28,418$314,287
28$505,745$147,385$29,839$328,520
29$531,032$156,236$31,331$343,465
30$557,584$165,529$32,897$359,157
Total$9,000,000$2,303,675$531,000$6,165,321

◄ Back to Jackpot Analysis

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.