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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Aug 30, 2013

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The tax information provided here is based on 2022 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 $77,000,000 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 prize money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Fri, Aug 30, 2013
Jackpot:$77,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,158,960$391,770$68,379$698,811
2$1,216,909$413,211$71,798$731,900
3$1,277,754$435,724$75,387$766,642
4$1,341,642$459,362$79,157$803,122
5$1,408,724$484,183$83,115$841,426
6$1,479,160$510,244$87,270$881,645
7$1,553,118$537,609$91,634$923,875
8$1,630,774$566,341$96,216$968,217
9$1,712,313$596,511$101,026$1,014,775
10$1,797,928$628,188$106,078$1,063,662
11$1,887,825$661,450$111,382$1,114,993
12$1,982,216$696,375$116,951$1,168,890
13$2,081,327$733,046$122,798$1,225,482
14$2,185,393$771,550$128,938$1,284,904
15$2,294,663$811,980$135,385$1,347,297
16$2,409,396$854,431$142,154$1,412,810
17$2,529,865$899,005$149,262$1,481,598
18$2,656,359$945,808$156,725$1,553,826
19$2,789,177$994,950$164,561$1,629,665
20$2,928,635$1,046,550$172,789$1,709,296
21$3,075,067$1,100,730$181,429$1,792,908
22$3,228,821$1,157,619$190,500$1,880,702
23$3,390,262$1,217,352$200,025$1,972,884
24$3,559,775$1,280,072$210,027$2,069,676
25$3,737,763$1,345,927$220,528$2,171,308
26$3,924,652$1,415,076$231,554$2,278,021
27$4,120,884$1,487,682$243,132$2,390,070
28$4,326,928$1,563,918$255,289$2,507,721
29$4,543,275$1,643,967$268,053$2,631,255
30$4,770,439$1,728,017$281,456$2,760,965
Total$77,000,000$27,378,648$4,542,998$45,078,346

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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.