USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Mar 7, 2023

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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 $188,000,000 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, Mar 7, 2023
Jackpot:$188,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,829,670$1,005,166$166,951$1,657,554
2$2,971,153$1,057,514$175,298$1,738,341
3$3,119,711$1,112,481$184,063$1,823,167
4$3,275,697$1,170,195$193,266$1,912,235
5$3,439,481$1,230,796$202,929$2,005,756
6$3,611,455$1,294,426$213,076$2,103,953
7$3,792,028$1,361,238$223,730$2,207,060
8$3,981,630$1,431,391$234,916$2,315,323
9$4,180,711$1,505,051$246,662$2,428,998
10$4,389,747$1,582,394$258,995$2,548,358
11$4,609,234$1,663,604$271,945$2,673,685
12$4,839,696$1,748,875$285,542$2,805,278
13$5,081,680$1,838,410$299,819$2,943,452
14$5,335,764$1,932,421$314,810$3,088,534
15$5,602,553$2,031,132$330,551$3,240,870
16$5,882,680$2,134,779$347,078$3,400,823
17$6,176,814$2,243,609$364,432$3,568,773
18$6,485,655$2,357,880$382,654$3,745,121
19$6,809,938$2,477,865$401,786$3,930,287
20$7,150,435$2,603,849$421,876$4,124,710
21$7,507,956$2,736,132$442,969$4,328,855
22$7,883,354$2,875,029$465,118$4,543,207
23$8,277,522$3,020,871$488,374$4,768,277
24$8,691,398$3,174,005$512,792$5,004,600
25$9,125,968$3,334,796$538,432$5,252,740
26$9,582,266$3,503,626$565,354$5,513,286
27$10,061,380$3,680,898$593,621$5,786,860
28$10,564,449$3,867,034$623,302$6,074,112
29$11,092,671$4,062,476$654,468$6,375,727
30$11,647,305$4,267,690$687,191$6,692,423
Total$188,000,000$68,305,633$11,092,000$108,602,365

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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.