USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jan 5, 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 $18,000,000 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:Tue, Jan 5, 1999
Jackpot:$18,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$270,926$65,199$15,985$189,742
2$284,472$69,940$16,784$197,748
3$298,696$74,918$17,623$206,154
4$313,631$80,145$18,504$214,981
5$329,312$85,634$19,429$224,249
6$345,778$91,397$20,401$233,980
7$363,067$97,448$21,421$244,198
8$381,220$103,802$22,492$254,926
9$400,281$110,473$23,617$266,191
10$420,295$117,478$24,797$278,020
11$441,310$124,833$26,037$290,439
12$463,375$132,556$27,339$303,480
13$486,544$140,665$28,706$317,173
14$510,871$149,180$30,141$331,550
15$536,415$158,120$31,648$346,646
16$563,235$167,507$33,231$362,497
17$591,397$177,364$34,892$379,141
18$620,967$187,946$36,637$396,384
19$652,015$199,433$38,469$414,113
20$684,616$211,496$40,392$432,728
21$718,847$224,161$42,412$452,274
22$754,789$237,460$44,533$472,797
23$792,529$251,423$46,759$494,346
24$832,155$266,085$49,097$516,973
25$873,763$281,480$51,552$540,731
26$917,451$297,645$54,130$565,677
27$963,324$314,617$56,836$591,870
28$1,011,490$332,439$59,678$619,373
29$1,062,064$351,152$62,662$648,251
30$1,115,167$370,800$65,795$678,573
Total$18,000,000$5,472,796$1,061,999$11,465,205

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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.