USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jan 29, 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 $50,000,000 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 29, 1999
Jackpot:$50,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$752,572$236,639$44,402$471,531
2$790,200$250,562$46,622$493,017
3$829,710$265,181$48,953$515,577
4$871,196$280,530$51,401$539,265
5$914,756$296,647$53,971$564,138
6$960,493$313,570$56,669$590,254
7$1,008,518$331,339$59,503$617,676
8$1,058,944$349,997$62,478$646,469
9$1,111,891$369,588$65,602$676,702
10$1,167,486$390,157$68,882$708,447
11$1,225,860$411,756$72,326$741,778
12$1,287,153$434,434$75,942$776,777
13$1,351,511$458,247$79,739$813,525
14$1,419,086$483,250$83,726$852,111
15$1,490,041$509,503$87,912$892,625
16$1,564,543$537,069$92,308$935,166
17$1,642,770$566,013$96,923$979,834
18$1,724,908$596,404$101,770$1,026,735
19$1,811,154$628,315$106,858$1,075,981
20$1,901,711$661,821$112,201$1,127,689
21$1,996,797$697,003$117,811$1,181,983
22$2,096,637$733,943$123,702$1,238,992
23$2,201,469$772,731$129,887$1,298,851
24$2,311,542$813,458$136,381$1,361,703
25$2,427,119$856,222$143,200$1,427,697
26$2,548,475$901,124$150,360$1,496,992
27$2,675,899$948,270$157,878$1,569,750
28$2,809,694$997,774$165,772$1,646,147
29$2,950,178$1,049,754$174,061$1,726,364
30$3,097,687$1,104,332$182,764$1,810,592
Total$50,000,000$17,245,633$2,950,004$29,804,368

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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.