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New Mexico Mega Millions Jackpot Annuity Payout Schedule for May 21, 2021

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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 $516,000,000 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, May 21, 2021
Jackpot:$516,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,766,540$2,831,808$458,226$4,476,507
2$8,154,868$2,975,489$481,137$4,698,242
3$8,562,611$3,126,354$505,194$4,931,063
4$8,990,742$3,284,762$530,454$5,175,526
5$9,440,278$3,451,091$556,976$5,432,211
6$9,912,292$3,625,736$584,825$5,701,731
7$10,407,907$3,809,113$614,067$5,984,727
8$10,928,303$4,001,660$644,770$6,281,873
9$11,474,718$4,203,833$677,008$6,593,876
10$12,048,453$4,416,116$710,859$6,921,479
11$12,650,876$4,639,012$746,402$7,265,463
12$13,283,420$4,873,053$783,722$7,626,645
13$13,947,591$5,118,796$822,908$8,005,887
14$14,644,971$5,376,827$864,053$8,404,090
15$15,377,219$5,647,759$907,256$8,822,204
16$16,146,080$5,932,237$952,619$9,261,224
17$16,953,384$6,230,940$1,000,250$9,722,194
18$17,801,053$6,544,577$1,050,262$10,206,214
19$18,691,106$6,873,897$1,102,775$10,714,434
20$19,625,661$7,219,682$1,157,914$11,248,065
21$20,606,944$7,582,757$1,215,810$11,808,377
22$21,637,291$7,963,986$1,276,600$12,396,706
23$22,719,156$8,364,275$1,340,430$13,014,450
24$23,855,113$8,784,580$1,407,452$13,663,082
25$25,047,869$9,225,899$1,477,824$14,344,146
26$26,300,263$9,689,285$1,551,716$15,059,262
27$27,615,276$10,175,840$1,629,301$15,810,135
28$28,996,040$10,686,722$1,710,766$16,598,551
29$30,445,842$11,223,149$1,796,305$17,426,388
30$31,968,134$11,786,397$1,886,120$18,295,617
Total$516,000,001$189,665,632$30,444,001$295,890,369

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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.