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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jul 29, 2022

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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 $1,337,000,000 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, Jul 29, 2022
Jackpot:$1,337,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$20,123,769$7,408,749$1,187,302$11,527,717
2$21,129,957$7,781,039$1,246,667$12,102,251
3$22,186,455$8,171,943$1,309,001$12,705,511
4$23,295,778$8,582,393$1,374,451$13,338,934
5$24,460,566$9,013,364$1,443,173$14,004,028
6$25,683,595$9,465,885$1,515,332$14,702,378
7$26,967,775$9,941,032$1,591,099$15,435,645
8$28,316,164$10,439,936$1,670,654$16,205,575
9$29,731,972$10,963,785$1,754,186$17,014,001
10$31,218,570$11,513,826$1,841,896$17,862,849
11$32,779,499$12,091,370$1,933,990$18,754,139
12$34,418,474$12,697,790$2,030,690$19,689,994
13$36,139,397$13,334,532$2,132,224$20,672,641
14$37,946,368$14,003,111$2,238,836$21,704,421
15$39,843,686$14,705,119$2,350,777$22,787,790
16$41,835,870$15,442,227$2,468,316$23,925,327
17$43,927,663$16,216,190$2,591,732$25,119,741
18$46,124,047$17,028,852$2,721,319$26,373,876
19$48,430,249$17,882,147$2,857,385$27,690,717
20$50,851,761$18,778,107$3,000,254$29,073,401
21$53,394,349$19,718,864$3,150,267$30,525,218
22$56,064,067$20,706,660$3,307,780$32,049,627
23$58,867,270$21,743,845$3,473,169$33,650,256
24$61,810,633$22,832,889$3,646,827$35,330,916
25$64,901,165$23,976,386$3,829,169$37,095,610
26$68,146,224$25,177,058$4,020,627$38,948,539
27$71,553,535$26,437,763$4,221,659$40,894,114
28$75,131,211$27,761,503$4,432,741$42,936,966
29$78,887,772$29,151,431$4,654,379$45,081,963
30$82,832,161$30,610,855$4,887,098$47,334,209
Total$1,337,000,003$493,578,651$78,883,000$764,538,354

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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.