USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 1999

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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 $27,000,000 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, Jan 15, 1999
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$23,977$269,801
2$426,708$119,723$25,176$281,810
3$448,044$127,190$26,435$294,419
4$470,446$135,031$27,756$307,659
5$493,968$143,264$29,144$321,560
6$518,666$151,908$30,601$336,157
7$544,600$160,985$32,131$351,484
8$571,830$170,515$33,738$367,577
9$600,421$180,522$35,425$384,474
10$630,442$191,451$37,196$401,795
11$661,964$203,115$39,056$419,794
12$695,063$215,361$41,009$438,693
13$729,816$228,220$43,059$458,537
14$766,307$241,721$45,212$479,373
15$804,622$255,898$47,473$501,251
16$844,853$270,783$49,846$524,223
17$887,096$286,413$52,339$548,344
18$931,450$302,824$54,956$573,670
19$978,023$320,056$57,703$600,263
20$1,026,924$338,150$60,589$628,186
21$1,078,270$357,148$63,618$657,505
22$1,132,184$377,096$66,799$688,289
23$1,188,793$398,041$70,139$720,613
24$1,248,233$420,034$73,646$754,553
25$1,310,644$443,126$77,328$790,190
26$1,376,177$467,373$81,194$827,609
27$1,444,985$492,832$85,254$866,899
28$1,517,235$519,565$89,517$908,153
29$1,593,096$547,633$93,993$951,470
30$1,672,751$577,106$98,692$996,953
Total$27,000,000$8,755,695$1,593,001$16,651,304

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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.