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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jan 26, 2021

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The tax information provided here is based on 2021 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 $20,000,000 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 prize money, as well as deductions claimed.

New Mexico

Federal Filing Status:

Year Gross Payment Federal Taxes State Taxes Net Payment
1 $301,029 $79,904 $18,062 $203,063
2 $316,080 $85,172 $18,965 $211,943
3 $331,884 $90,704 $19,913 $221,267
4 $348,478 $96,512 $20,909 $231,058
5 $365,902 $102,610 $21,954 $241,338
6 $384,197 $109,013 $23,052 $252,132
7 $403,407 $115,737 $24,204 $263,466
8 $423,578 $122,796 $25,415 $275,367
9 $444,757 $130,209 $26,685 $287,862
10 $466,994 $137,992 $28,020 $300,982
11 $490,344 $146,165 $29,421 $314,759
12 $514,861 $154,746 $30,892 $329,224
13 $540,604 $164,096 $32,436 $344,072
14 $567,635 $174,097 $34,058 $359,479
15 $596,016 $184,598 $35,761 $375,657
16 $625,817 $195,625 $37,549 $392,643
17 $657,108 $207,202 $39,426 $410,479
18 $689,963 $219,359 $41,398 $429,207
19 $724,461 $232,123 $43,468 $448,871
20 $760,685 $245,526 $45,641 $469,518
21 $798,719 $259,598 $47,923 $491,197
22 $838,655 $274,374 $50,319 $513,961
23 $880,587 $289,890 $52,835 $537,863
24 $924,617 $306,180 $55,477 $562,959
25 $970,848 $323,286 $58,251 $589,311
26 $1,019,390 $341,247 $61,163 $616,980
27 $1,070,360 $360,105 $64,222 $646,033
28 $1,123,878 $379,907 $67,433 $676,538
29 $1,180,071 $400,699 $70,804 $708,568
30 $1,239,075 $422,530 $74,344 $742,200
Total $20,000,000 $6,352,002 $1,200,000 $12,447,997

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.

Mega Millions annuity chart shows the annual net payout a New Mexico jackpot winner would get after federal and state taxes.