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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Nov 18, 2022

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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 $238,000,000 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, Nov 18, 2022
Jackpot:$238,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,582,242$1,283,617$211,352$2,087,272
2$3,761,354$1,349,889$221,920$2,189,545
3$3,949,421$1,419,474$233,016$2,296,932
4$4,146,892$1,492,538$244,667$2,409,688
5$4,354,237$1,569,255$256,900$2,528,082
6$4,571,949$1,649,809$269,745$2,652,395
7$4,800,546$1,734,390$283,232$2,782,924
8$5,040,574$1,823,200$297,394$2,919,980
9$5,292,602$1,916,451$312,264$3,063,888
10$5,557,232$2,014,364$327,877$3,214,992
11$5,835,094$2,117,173$344,271$3,373,651
12$6,126,849$2,225,122$361,484$3,540,243
13$6,433,191$2,338,468$379,558$3,715,164
14$6,754,851$2,457,483$398,536$3,898,832
15$7,092,593$2,582,447$418,463$4,091,683
16$7,447,223$2,713,660$439,386$4,294,177
17$7,819,584$2,851,434$461,355$4,506,795
18$8,210,563$2,996,096$484,423$4,730,044
19$8,621,091$3,147,992$508,644$4,964,455
20$9,052,146$3,307,482$534,077$5,210,588
21$9,504,753$3,474,946$560,780$5,469,026
22$9,979,991$3,650,784$588,819$5,740,387
23$10,478,991$3,835,414$618,260$6,025,316
24$11,002,940$4,029,276$649,173$6,324,491
25$11,553,087$4,232,830$681,632$6,638,625
26$12,130,741$4,446,562$715,714$6,968,466
27$12,737,279$4,670,981$751,499$7,314,798
28$13,374,142$4,906,620$789,074$7,678,447
29$14,042,849$5,154,042$828,528$8,060,279
30$14,744,992$5,413,835$869,955$8,461,203
Total$238,000,000$86,805,634$14,041,998$137,152,368

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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.