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New Mexico Mega Millions Jackpot Annuity Payout Schedule for Jan 22, 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 $970,000,000 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 $14,599,892 $5,366,032 $875,994 $8,357,866
2 $15,329,887 $5,636,130 $919,793 $8,773,963
3 $16,096,381 $5,919,733 $965,783 $9,210,865
4 $16,901,200 $6,217,516 $1,014,072 $9,669,612
5 $17,746,260 $6,530,188 $1,064,776 $10,151,296
6 $18,633,573 $6,858,494 $1,118,014 $10,657,064
7 $19,565,252 $7,203,216 $1,173,915 $11,188,121
8 $20,543,515 $7,565,173 $1,232,611 $11,745,731
9 $21,570,690 $7,945,228 $1,294,241 $12,331,221
10 $22,649,225 $8,344,285 $1,358,953 $12,945,986
11 $23,781,686 $8,763,296 $1,426,901 $13,591,489
12 $24,970,770 $9,203,257 $1,498,246 $14,269,267
13 $26,219,309 $9,665,216 $1,573,159 $14,980,934
14 $27,530,274 $10,150,274 $1,651,816 $15,728,184
15 $28,906,788 $10,659,584 $1,734,407 $16,512,797
16 $30,352,127 $11,194,359 $1,821,128 $17,336,640
17 $31,869,733 $11,755,874 $1,912,184 $18,201,676
18 $33,463,220 $12,345,464 $2,007,793 $19,109,963
19 $35,136,381 $12,964,533 $2,108,183 $20,063,665
20 $36,893,200 $13,614,556 $2,213,592 $21,065,052
21 $38,737,860 $14,297,080 $2,324,272 $22,116,508
22 $40,674,753 $15,013,731 $2,440,485 $23,220,537
23 $42,708,491 $15,766,214 $2,562,509 $24,379,768
24 $44,843,915 $16,556,321 $2,690,635 $25,596,959
25 $47,086,111 $17,385,933 $2,825,167 $26,875,011
26 $49,440,417 $18,257,027 $2,966,425 $28,216,965
27 $51,912,438 $19,171,674 $3,114,746 $29,626,017
28 $54,508,059 $20,132,054 $3,270,484 $31,105,521
29 $57,233,462 $21,140,453 $3,434,008 $32,659,001
30 $60,095,136 $22,199,272 $3,605,708 $34,290,155
Total $970,000,002 $357,822,167 $58,200,000 $553,977,834

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.

Powerball jackpot hits $640M as Mega Millions grows to $750M

A billboard advertises the jackpots of the Powerball and Mega Millions lotteries, in Omaha, Neb., Wednesday, Jan. 13, 2021. Lottery players will have a shot Friday night at the fifth-largest jackpot in U.S. history after no tickets matched all the numbers in the latest Mega Millions drawing. The big prize for Powerball, the other national lottery game, is $550 million for Wednesday night’s drawing. (AP Photo/Nati Harnik) | Photo: AP

Updated: January 13, 2021 11:40 PM
Created: January 13, 2021 11:38 PM

DES MOINES, Iowa (AP) – Another night, another unclaimed giant lottery jackpot.

Wednesday night’s Powerball jackpot was worth at least $550 million and grew to an estimated $640 million without a winner heading into the next drawing Saturday. Numbers for Wednesday night’s Powerball drawing were: 4-19-23-25-49 and a Powerball of 14.

The Powerball prize drawing was only a day after no one won a $625 million Mega Millions jackpot, causing that prize to grow to $750 million ahead of the next drawing on Friday night.

The Mega Millions prize is now the fifth-largest in U.S. history.

It’s only the second time both of the national lottery games have topped $500 million.

The prizes have grown so massive because it has been months since anyone has matched all six numbers and won either jackpot. The odds of winning it all are incredibly small, at 1 in 292.2 million for Powerball and 1 in 302.5 million for Mega Millions.

The jackpots listed by the lotteries are for winners who opt to be paid through an annuity over 30 years. Nearly all winners take the cash option, which is less.

Mega Millions and Powerball are both played in 45 states as well as Washington, D.C., and the U.S. Virgin Islands. Powerball also is offered in Puerto Rico.

(Copyright 2021 by The Associated Press. All Rights Reserved.)

Powerball jackpot hits $640M as Mega Millions grows to $750M A billboard advertises the jackpots of the Powerball and Mega Millions lotteries, in Omaha, Neb., Wednesday, Jan. 13, 2021. Lottery ]]>