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New Mexico Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

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The tax information provided here is based on 2021 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 $336,000,000 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, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$298,380$2,923,636
2$5,310,146$1,928,826$313,299$3,068,021
3$5,575,654$2,027,064$328,964$3,219,626
4$5,854,436$2,130,214$345,412$3,378,811
5$6,147,158$2,238,521$362,682$3,545,955
6$6,454,516$2,352,243$380,816$3,721,456
7$6,777,242$2,471,652$399,857$3,905,733
8$7,116,104$2,597,031$419,850$4,099,223
9$7,471,909$2,728,679$440,843$4,302,388
10$7,845,505$2,866,909$462,885$4,515,711
11$8,237,780$3,012,051$486,029$4,739,700
12$8,649,669$3,164,450$510,330$4,974,889
13$9,082,152$3,324,469$535,847$5,221,837
14$9,536,260$3,492,488$562,639$5,481,132
15$10,013,073$3,668,909$590,771$5,753,392
16$10,513,727$3,854,151$620,310$6,039,266
17$11,039,413$4,048,655$651,325$6,339,432
18$11,591,383$4,252,884$683,892$6,654,608
19$12,170,953$4,467,325$718,086$6,985,542
20$12,779,500$4,692,487$753,991$7,333,022
21$13,418,475$4,928,908$791,690$7,697,877
22$14,089,399$5,177,150$831,275$8,080,975
23$14,793,869$5,437,804$872,838$8,483,227
24$15,533,562$5,711,490$916,480$8,905,592
25$16,310,240$5,998,861$962,304$9,349,075
26$17,125,753$6,300,601$1,010,419$9,814,733
27$17,982,040$6,617,427$1,060,940$10,303,673
28$18,881,142$6,950,095$1,113,987$10,817,060
29$19,825,199$7,299,396$1,169,687$11,356,116
30$20,816,459$7,666,162$1,228,171$11,922,126
Total$336,000,001$123,242,169$19,823,999$192,933,834

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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.