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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jun 13, 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 $260,000,000 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, Jun 13, 2023
Jackpot:$260,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,913,373$1,406,136$230,889$2,276,348
2$4,109,042$1,478,533$242,433$2,388,075
3$4,314,494$1,554,550$254,555$2,505,388
4$4,530,219$1,634,369$267,283$2,628,567
5$4,756,729$1,718,178$280,647$2,757,905
6$4,994,566$1,806,177$294,679$2,893,709
7$5,244,294$1,898,577$309,413$3,036,304
8$5,506,509$1,995,596$324,884$3,186,029
9$5,781,835$2,097,467$341,128$3,343,240
10$6,070,926$2,204,430$358,185$3,508,311
11$6,374,473$2,316,743$376,094$3,681,636
12$6,693,196$2,434,670$394,899$3,863,627
13$7,027,856$2,558,494$414,643$4,054,718
14$7,379,249$2,688,510$435,376$4,255,363
15$7,748,211$2,825,026$457,144$4,466,041
16$8,135,622$2,968,368$480,002$4,687,252
17$8,542,403$3,118,877$504,002$4,919,524
18$8,969,523$3,276,911$529,202$5,163,410
19$9,417,999$3,442,847$555,662$5,419,490
20$9,888,899$3,617,080$583,445$5,688,374
21$10,383,344$3,800,025$612,617$5,970,702
22$10,902,511$3,992,117$643,248$6,267,146
23$11,447,637$4,193,813$675,411$6,578,413
24$12,020,018$4,405,595$709,181$6,905,243
25$12,621,019$4,627,965$744,640$7,248,414
26$13,252,071$4,861,454$781,872$7,608,745
27$13,914,674$5,106,617$820,966$7,987,091
28$14,610,408$5,364,039$862,014$8,384,355
29$15,340,928$5,634,331$905,115$8,801,482
30$16,107,974$5,918,138$950,370$9,239,466
Total$260,000,001$94,945,633$15,339,999$149,714,368

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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.