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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Aug 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 $535,000,000 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 23, 2024
Jackpot:$535,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,052,518$2,937,619$475,099$4,639,800
2$8,455,144$3,086,591$498,853$4,869,699
3$8,877,901$3,243,011$523,796$5,111,094
4$9,321,796$3,407,252$549,986$5,364,558
5$9,787,885$3,579,705$577,485$5,630,695
6$10,277,280$3,760,781$606,360$5,910,139
7$10,791,144$3,950,911$636,678$6,203,556
8$11,330,701$4,150,547$668,511$6,511,643
9$11,897,236$4,360,165$701,937$6,835,134
10$12,492,098$4,580,264$737,034$7,174,800
11$13,116,703$4,811,368$773,885$7,531,450
12$13,772,538$5,054,027$812,580$7,905,932
13$14,461,165$5,308,819$853,209$8,299,137
14$15,184,223$5,576,350$895,869$8,712,004
15$15,943,434$5,857,258$940,663$9,145,513
16$16,740,606$6,152,212$987,696$9,600,698
17$17,577,636$6,461,913$1,037,081$10,078,643
18$18,456,518$6,787,100$1,088,935$10,580,484
19$19,379,344$7,128,545$1,143,381$11,107,418
20$20,348,311$7,487,063$1,200,550$11,660,698
21$21,365,727$7,863,507$1,260,578$12,241,642
22$22,434,013$8,258,773$1,323,607$12,851,634
23$23,555,714$8,673,802$1,389,787$13,492,125
24$24,733,499$9,109,583$1,459,276$14,164,640
25$25,970,174$9,567,152$1,532,240$14,870,782
26$27,268,684$10,047,601$1,608,852$15,612,231
27$28,632,118$10,552,071$1,689,295$16,390,751
28$30,063,723$11,081,765$1,773,760$17,208,198
29$31,566,909$11,637,944$1,862,448$18,066,518
30$33,145,255$12,221,932$1,955,570$18,967,753
Total$535,000,001$196,695,631$31,565,001$306,739,369

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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.