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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Apr 23, 2024

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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 $202,000,000 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, Apr 23, 2024
Jackpot:$202,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,040,390$1,083,132$179,383$1,777,875
2$3,192,409$1,139,379$188,352$1,864,678
3$3,352,030$1,198,439$197,770$1,955,821
4$3,519,631$1,260,451$207,658$2,051,522
5$3,695,613$1,325,564$218,041$2,152,007
6$3,880,394$1,393,933$228,943$2,257,517
7$4,074,413$1,465,721$240,390$2,368,302
8$4,278,134$1,541,097$252,410$2,484,627
9$4,492,041$1,620,243$265,030$2,606,767
10$4,716,643$1,703,346$278,282$2,735,015
11$4,952,475$1,790,603$292,196$2,869,675
12$5,200,099$1,882,224$306,806$3,011,069
13$5,460,103$1,978,426$322,146$3,159,531
14$5,733,109$2,079,438$338,253$3,315,417
15$6,019,764$2,185,500$355,166$3,479,098
16$6,320,752$2,296,866$372,924$3,650,962
17$6,636,790$2,413,800$391,571$3,831,419
18$6,968,629$2,536,581$411,149$4,020,900
19$7,317,061$2,665,500$431,707$4,219,854
20$7,682,914$2,800,866$453,292$4,428,756
21$8,067,059$2,943,000$475,957$4,648,103
22$8,470,412$3,092,240$499,754$4,878,418
23$8,893,933$3,248,943$524,742$5,120,248
24$9,338,630$3,413,481$550,979$5,374,170
25$9,805,561$3,586,245$578,528$5,640,788
26$10,295,839$3,767,648$607,455$5,920,737
27$10,810,631$3,958,121$637,827$6,214,683
28$11,351,163$4,158,118$669,719$6,523,326
29$11,918,721$4,368,114$703,205$6,847,402
30$12,514,657$4,588,611$738,365$7,187,681
Total$202,000,000$73,485,630$11,918,000$116,596,368

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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.