USA Mega

New Mexico Mega Millions Jackpot Annuity Payout Schedule for Aug 25, 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 $52,000,000 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, Aug 25, 2023
Jackpot:$52,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$782,675$247,777$46,178$488,719
2$821,808$262,257$48,487$511,065
3$862,899$277,460$50,911$534,527
4$906,044$293,424$53,457$559,163
5$951,346$310,186$56,129$585,031
6$998,913$327,786$58,936$612,192
7$1,048,859$346,266$61,883$640,711
8$1,101,302$365,669$64,977$670,656
9$1,156,367$386,044$68,226$702,098
10$1,214,185$407,436$71,637$735,112
11$1,274,895$429,899$75,219$769,777
12$1,338,639$453,484$78,980$806,175
13$1,405,571$478,249$82,929$844,393
14$1,475,850$504,252$87,075$884,522
15$1,549,642$531,555$91,429$926,658
16$1,627,124$560,224$96,000$970,900
17$1,708,481$590,326$100,800$1,017,355
18$1,793,905$621,932$105,840$1,066,132
19$1,883,600$655,120$111,132$1,117,348
20$1,977,780$689,966$116,689$1,171,125
21$2,076,669$726,555$122,523$1,227,590
22$2,180,502$764,974$128,650$1,286,879
23$2,289,527$805,313$135,082$1,349,132
24$2,404,004$847,669$141,836$1,414,498
25$2,524,204$892,143$148,928$1,483,133
26$2,650,414$938,841$156,374$1,555,199
27$2,782,935$987,874$164,193$1,630,868
28$2,922,082$1,039,358$172,403$1,710,321
29$3,068,186$1,093,416$181,023$1,793,746
30$3,221,595$1,150,178$190,074$1,881,343
Total$52,000,000$17,985,633$3,068,000$30,946,368

◄ 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.