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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Aug 30, 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 $627,000,000 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 30, 2024
Jackpot:$627,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,437,250$3,449,970$556,798$5,430,482
2$9,909,112$3,624,559$584,638$5,699,915
3$10,404,568$3,807,878$613,869$5,982,820
4$10,924,797$4,000,362$644,563$6,279,871
5$11,471,036$4,202,471$676,791$6,591,774
6$12,044,588$4,414,685$710,631$6,919,272
7$12,646,818$4,637,510$746,162$7,263,145
8$13,279,158$4,871,476$783,470$7,624,212
9$13,943,116$5,117,141$822,644$8,003,332
10$14,640,272$5,375,088$863,776$8,401,408
11$15,372,286$5,645,933$906,965$8,819,387
12$16,140,900$5,930,321$952,313$9,258,266
13$16,947,945$6,228,927$999,929$9,719,089
14$17,795,342$6,542,464$1,049,925$10,202,953
15$18,685,109$6,871,678$1,102,421$10,711,010
16$19,619,365$7,217,353$1,157,543$11,244,470
17$20,600,333$7,580,311$1,215,420$11,804,602
18$21,630,349$7,961,417$1,276,191$12,392,742
19$22,711,867$8,361,578$1,340,000$13,010,288
20$23,847,460$8,781,748$1,407,000$13,658,712
21$25,039,833$9,222,926$1,477,350$14,339,557
22$26,291,825$9,686,163$1,551,218$15,054,444
23$27,606,416$10,172,562$1,628,779$15,805,076
24$28,986,737$10,683,280$1,710,217$16,593,239
25$30,436,074$11,219,535$1,795,728$17,420,810
26$31,957,878$11,782,603$1,885,515$18,289,760
27$33,555,772$12,373,823$1,979,791$19,202,158
28$35,233,560$12,994,605$2,078,780$20,160,175
29$36,995,238$13,646,426$2,182,719$21,166,093
30$38,845,000$14,330,838$2,291,855$22,222,307
Total$627,000,001$230,735,631$36,993,001$359,271,369

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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.