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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 2002

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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 $56,000,000 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, Mar 22, 2002
Jackpot:$56,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$842,880$270,053$49,730$523,097
2$885,024$285,647$52,216$547,161
3$929,276$302,020$54,827$572,429
4$975,739$319,211$57,569$598,959
5$1,024,526$337,262$60,447$626,817
6$1,075,753$356,216$63,469$656,067
7$1,129,540$376,118$66,643$686,780
8$1,186,017$397,014$69,975$719,028
9$1,245,318$418,955$73,474$752,889
10$1,307,584$441,994$77,147$788,443
11$1,372,963$466,184$81,005$825,774
12$1,441,611$491,584$85,055$864,972
13$1,513,692$518,254$89,308$906,130
14$1,589,377$546,257$93,773$949,346
15$1,668,845$575,661$98,462$994,723
16$1,752,288$606,534$103,385$1,042,369
17$1,839,902$638,952$108,554$1,092,396
18$1,931,897$672,990$113,982$1,144,926
19$2,028,492$708,730$119,681$1,200,081
20$2,129,917$746,257$125,665$1,257,995
21$2,236,413$785,660$131,948$1,318,804
22$2,348,233$827,034$138,546$1,382,653
23$2,465,645$870,476$145,473$1,449,695
24$2,588,927$916,091$152,747$1,520,090
25$2,718,373$963,986$160,384$1,594,003
26$2,854,292$1,014,276$168,403$1,671,613
27$2,997,007$1,067,080$176,823$1,753,103
28$3,146,857$1,122,525$185,665$1,838,668
29$3,304,200$1,180,742$194,948$1,928,510
30$3,469,410$1,241,869$204,695$2,022,845
Total$56,000,000$19,465,632$3,303,999$33,230,366

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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.