USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Nov 1, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $87,000,000 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, Nov 1, 2022
Jackpot:$87,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,309,475$442,693$77,259$789,522
2$1,374,949$466,919$81,122$826,908
3$1,443,696$492,355$85,178$866,163
4$1,515,881$519,064$89,437$907,380
5$1,591,675$547,107$93,909$950,659
6$1,671,259$576,553$98,604$996,101
7$1,754,822$607,472$103,534$1,043,815
8$1,842,563$639,936$108,711$1,093,916
9$1,934,691$674,023$114,147$1,146,521
10$2,031,425$709,815$119,854$1,201,756
11$2,132,997$747,396$125,847$1,259,753
12$2,239,646$786,857$132,139$1,320,650
13$2,351,629$828,290$138,746$1,384,592
14$2,469,210$871,796$145,683$1,451,731
15$2,592,671$917,476$152,968$1,522,227
16$2,722,304$965,440$160,616$1,596,248
17$2,858,419$1,015,803$168,647$1,673,970
18$3,001,340$1,068,684$177,079$1,755,578
19$3,151,407$1,124,208$185,933$1,841,266
20$3,308,978$1,182,510$195,230$1,931,239
21$3,474,427$1,243,726$204,991$2,025,710
22$3,648,148$1,308,002$215,241$2,124,905
23$3,830,555$1,375,493$226,003$2,229,059
24$4,022,083$1,446,358$237,303$2,338,422
25$4,223,187$1,520,767$249,168$2,453,252
26$4,434,347$1,598,896$261,626$2,573,824
27$4,656,064$1,680,931$274,708$2,700,425
28$4,888,867$1,767,069$288,443$2,833,355
29$5,133,311$1,857,513$302,865$2,972,933
30$5,389,976$1,952,479$318,009$3,119,489
Total$87,000,000$30,935,631$5,133,000$50,931,369

◄ Back to Jackpot Analysis

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.