USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for New Mexico (Sep. 23, 2020 Drawing)

Media: You may freely use any information on this page, but you must credit www.usamega.com.

The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $22,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

New Mexico

Drawing Date:  Sep. 23, 2020
Jackpot:$22,000,000
Federal Tax:  24%
State Tax:4.90%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$331,132$79,472$16,225$235,435
2$347,688$83,445$17,037$247,206
3$365,073$87,617$17,889$259,567
4$383,326$91,998$18,783$272,545
5$402,492$96,598$19,722$286,172
6$422,617$101,428$20,708$300,481
7$443,748$106,500$21,744$315,505
8$465,935$111,824$22,831$331,280
9$489,232$117,416$23,972$347,844
10$513,694$123,287$25,171$365,236
11$539,378$129,451$26,430$383,498
12$566,347$135,923$27,751$402,673
13$594,665$142,720$29,139$422,807
14$624,398$149,856$30,596$443,947
15$655,618$157,348$32,125$466,144
16$688,399$165,216$33,732$489,452
17$722,819$173,476$35,418$513,924
18$758,960$182,150$37,189$539,620
19$796,908$191,258$39,048$566,601
20$836,753$200,821$41,001$594,931
21$878,591$210,862$43,051$624,678
22$922,520$221,405$45,203$655,912
23$968,646$232,475$47,464$688,707
24$1,017,078$244,099$49,837$723,143
25$1,067,932$256,304$52,329$759,300
26$1,121,329$269,119$54,945$797,265
27$1,177,395$282,575$57,692$837,128
28$1,236,265$296,704$60,577$878,985
29$1,298,079$311,539$63,606$922,934
30$1,362,982$327,116$66,786$969,081
Total$22,000,000$5,280,000$1,078,000$15,642,000
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.