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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jul 19, 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 $251,000,000 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, Jul 19, 2024
Jackpot:$251,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,777,910$1,356,015$222,897$2,198,999
2$3,966,806$1,425,906$234,042$2,306,858
3$4,165,146$1,499,292$245,744$2,420,111
4$4,373,403$1,576,347$258,031$2,539,026
5$4,592,073$1,657,255$270,932$2,663,886
6$4,821,677$1,742,208$284,479$2,794,990
7$5,062,761$1,831,409$298,703$2,932,649
8$5,315,899$1,925,070$313,638$3,077,191
9$5,581,694$2,023,415$329,320$3,228,960
10$5,860,779$2,126,676$345,786$3,388,317
11$6,153,818$2,235,100$363,075$3,555,642
12$6,461,509$2,348,946$381,229$3,731,334
13$6,784,584$2,468,484$400,290$3,915,810
14$7,123,813$2,593,999$420,305$4,109,510
15$7,480,004$2,725,789$441,320$4,312,894
16$7,854,004$2,864,169$463,386$4,526,449
17$8,246,704$3,009,468$486,556$4,750,680
18$8,659,039$3,162,032$510,883$4,986,124
19$9,091,991$3,322,225$536,427$5,233,339
20$9,546,591$3,490,426$563,249$5,492,916
21$10,023,920$3,667,038$591,411$5,765,471
22$10,525,116$3,852,481$620,982$6,051,654
23$11,051,372$4,047,196$652,031$6,352,146
24$11,603,941$4,251,646$684,633$6,667,662
25$12,184,138$4,466,319$718,864$6,998,955
26$12,793,345$4,691,725$754,807$7,346,812
27$13,433,012$4,928,402$792,548$7,712,062
28$14,104,663$5,176,913$832,175$8,095,575
29$14,809,896$5,437,849$873,784$8,498,263
30$15,550,391$5,711,832$917,473$8,921,085
Total$251,000,001$91,615,632$14,809,000$144,575,370

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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.