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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jun 27, 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 $343,000,000 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 27, 2023
Jackpot:$343,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,162,642$1,868,365$304,596$2,989,681
2$5,420,774$1,963,874$319,826$3,137,074
3$5,691,813$2,064,159$335,817$3,291,837
4$5,976,404$2,169,457$352,608$3,454,339
5$6,275,224$2,280,021$370,238$3,624,965
6$6,588,985$2,396,112$388,750$3,804,123
7$6,918,435$2,518,009$408,188$3,992,238
8$7,264,356$2,646,000$428,597$4,189,760
9$7,627,574$2,780,390$450,027$4,397,157
10$8,008,953$2,921,500$472,528$4,614,924
11$8,409,400$3,069,666$496,155$4,843,580
12$8,829,870$3,225,240$520,962$5,083,668
13$9,271,364$3,388,592$547,010$5,335,761
14$9,734,932$3,560,113$574,361$5,600,458
15$10,221,679$3,740,209$603,079$5,878,391
16$10,732,763$3,929,310$633,233$6,170,220
17$11,269,400$4,127,866$664,895$6,476,640
18$11,832,871$4,336,350$698,139$6,798,381
19$12,424,514$4,555,258$733,046$7,136,210
20$13,045,740$4,785,111$769,699$7,490,930
21$13,698,027$5,026,458$808,184$7,863,386
22$14,382,928$5,279,871$848,593$8,254,464
23$15,102,075$5,545,955$891,022$8,665,097
24$15,857,178$5,825,344$935,574$9,096,261
25$16,650,037$6,118,701$982,352$9,548,983
26$17,482,539$6,426,727$1,031,470$10,024,342
27$18,356,666$6,750,154$1,083,043$10,523,469
28$19,274,499$7,089,752$1,137,195$11,047,551
29$20,238,224$7,446,331$1,194,055$11,597,838
30$21,250,136$7,820,738$1,253,758$12,175,640
Total$343,000,001$125,655,633$20,237,000$197,107,368

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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.