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New Mexico Powerball Jackpot Annuity Payout Schedule for Oct 16, 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 Powerball 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 $60,000,000 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.

State:

New Mexico

Drawing Date:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$53,282$551,590
2$948,240$314,921$55,946$577,373
3$995,652$332,464$58,743$604,445
4$1,045,435$350,883$61,681$632,871
5$1,097,707$370,224$64,765$662,718
6$1,152,592$390,531$68,003$694,058
7$1,210,222$411,854$71,403$726,964
8$1,270,733$434,243$74,973$761,516
9$1,334,270$457,752$78,722$797,796
10$1,400,983$482,436$82,658$835,889
11$1,471,032$508,354$86,791$875,887
12$1,544,584$535,568$91,130$917,885
13$1,621,813$564,143$95,687$961,983
14$1,702,904$594,147$100,471$1,008,286
15$1,788,049$625,650$105,495$1,056,904
16$1,877,451$658,729$110,770$1,107,952
17$1,971,324$693,462$116,308$1,161,554
18$2,069,890$729,932$122,124$1,217,835
19$2,173,384$768,224$128,230$1,276,930
20$2,282,054$808,432$134,641$1,338,980
21$2,396,156$850,650$141,373$1,404,133
22$2,515,964$894,979$148,442$1,472,543
23$2,641,762$941,524$155,864$1,544,374
24$2,773,850$990,397$163,657$1,619,796
25$2,912,543$1,041,713$171,840$1,698,990
26$3,058,170$1,095,595$180,432$1,782,143
27$3,211,079$1,152,171$189,454$1,869,454
28$3,371,633$1,211,576$198,926$1,961,130
29$3,540,214$1,273,951$208,873$2,057,390
30$3,717,225$1,339,445$219,316$2,158,463
Total$60,000,000$21,122,164$3,540,000$35,337,832

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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.