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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Sep 23, 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 $301,000,000 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, Sep 23, 2022
Jackpot:$301,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,530,482$1,639,233$267,298$2,623,950
2$4,757,006$1,723,047$280,663$2,753,295
3$4,994,856$1,811,052$294,697$2,889,108
4$5,244,599$1,903,457$309,431$3,031,711
5$5,506,829$2,000,482$324,903$3,181,444
6$5,782,171$2,102,358$341,148$3,338,664
7$6,071,279$2,209,328$358,205$3,503,745
8$6,374,843$2,321,647$376,116$3,677,080
9$6,693,585$2,439,582$394,922$3,859,082
10$7,028,265$2,563,413$414,668$4,050,184
11$7,379,678$2,693,436$435,401$4,250,841
12$7,748,662$2,829,960$457,171$4,461,531
13$8,136,095$2,973,310$480,030$4,682,755
14$8,542,900$3,123,828$504,031$4,915,041
15$8,970,044$3,281,871$529,233$5,158,940
16$9,418,547$3,447,817$555,694$5,415,035
17$9,889,474$3,622,060$583,479$5,683,935
18$10,383,948$3,805,016$612,653$5,966,279
19$10,903,145$3,997,119$643,286$6,262,741
20$11,448,302$4,198,827$675,450$6,574,026
21$12,020,717$4,410,620$709,222$6,900,875
22$12,621,753$4,633,004$744,683$7,244,066
23$13,252,841$4,866,506$781,918$7,604,417
24$13,915,483$5,111,684$821,013$7,982,786
25$14,611,257$5,369,120$862,064$8,380,073
26$15,341,820$5,639,428$905,167$8,797,224
27$16,108,911$5,923,252$950,426$9,235,233
28$16,914,356$6,221,267$997,947$9,695,142
29$17,760,074$6,534,182$1,047,844$10,178,047
30$18,648,078$6,862,744$1,100,237$10,685,098
Total$301,000,001$110,258,650$17,759,000$172,982,348

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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.