USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 2023

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $500,000,000 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, Jul 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$444,017$4,338,997
2$7,902,004$2,881,929$466,218$4,553,856
3$8,297,104$3,028,116$489,529$4,779,458
4$8,711,959$3,181,613$514,006$5,016,341
5$9,147,557$3,342,784$539,706$5,265,067
6$9,604,935$3,512,014$566,691$5,526,230
7$10,085,182$3,689,705$595,026$5,800,451
8$10,589,441$3,876,281$624,777$6,088,383
9$11,118,913$4,072,185$656,016$6,390,711
10$11,674,858$4,277,885$688,817$6,708,156
11$12,258,601$4,493,870$723,257$7,041,473
12$12,871,531$4,720,654$759,420$7,391,456
13$13,515,108$4,958,778$797,391$7,758,939
14$14,190,863$5,208,807$837,261$8,144,795
15$14,900,406$5,471,338$879,124$8,549,944
16$15,645,427$5,746,996$923,080$8,975,351
17$16,427,698$6,036,436$969,234$9,422,028
18$17,249,083$6,340,348$1,017,696$9,891,038
19$18,111,537$6,659,456$1,068,581$10,383,500
20$19,017,114$6,994,520$1,122,010$10,900,584
21$19,967,969$7,346,336$1,178,110$11,443,523
22$20,966,368$7,715,744$1,237,016$12,013,608
23$22,014,686$8,103,622$1,298,866$12,612,198
24$23,115,420$8,510,893$1,363,810$13,240,717
25$24,271,191$8,938,528$1,432,000$13,900,662
26$25,484,751$9,387,546$1,503,600$14,593,605
27$26,758,989$9,859,013$1,578,780$15,321,195
28$28,096,938$10,354,055$1,657,719$16,085,164
29$29,501,785$10,873,848$1,740,605$16,887,331
30$30,976,874$11,419,631$1,827,636$17,729,607
Total$500,000,001$183,745,634$29,499,999$286,754,368

◄ Back to Jackpot Analysis

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.