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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 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 $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$1,634,466$267,298$2,628,717
2$4,757,006$1,718,280$280,663$2,758,063
3$4,994,856$1,806,285$294,697$2,893,875
4$5,244,599$1,898,689$309,431$3,036,478
5$5,506,829$1,995,714$324,903$3,186,212
6$5,782,171$2,097,591$341,148$3,343,432
7$6,071,279$2,204,561$358,205$3,508,513
8$6,374,843$2,316,880$376,116$3,681,848
9$6,693,585$2,434,814$394,922$3,863,849
10$7,028,265$2,558,646$414,668$4,054,951
11$7,379,678$2,688,669$435,401$4,255,608
12$7,748,662$2,825,193$457,171$4,466,298
13$8,136,095$2,968,543$480,030$4,687,522
14$8,542,900$3,119,061$504,031$4,919,808
15$8,970,044$3,277,104$529,233$5,163,708
16$9,418,547$3,443,050$555,694$5,419,802
17$9,889,474$3,617,293$583,479$5,688,702
18$10,383,948$3,800,248$612,653$5,971,046
19$10,903,145$3,992,351$643,286$6,267,508
20$11,448,302$4,194,060$675,450$6,578,793
21$12,020,717$4,405,853$709,222$6,905,642
22$12,621,753$4,628,236$744,683$7,248,833
23$13,252,841$4,861,739$781,918$7,609,184
24$13,915,483$5,106,916$821,013$7,987,553
25$14,611,257$5,364,353$862,064$8,384,840
26$15,341,820$5,634,661$905,167$8,801,992
27$16,108,911$5,918,485$950,426$9,240,000
28$16,914,356$6,216,500$997,947$9,699,910
29$17,760,074$6,529,415$1,047,844$10,182,815
30$18,648,078$6,857,977$1,100,237$10,689,865
Total$301,000,001$110,115,633$17,759,000$173,125,367

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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.