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New Mexico Powerball Jackpot Annuity Payout Schedule for Feb 28, 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 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 $412,000,000 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:Wed, Feb 28, 2024
Jackpot:$412,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,201,191$2,252,629$365,870$3,582,692
2$6,511,251$2,367,351$384,164$3,759,737
3$6,836,813$2,487,809$403,372$3,945,633
4$7,178,654$2,614,290$423,541$4,140,824
5$7,537,587$2,747,095$444,718$4,345,774
6$7,914,466$2,886,540$466,953$4,560,972
7$8,310,190$3,032,958$490,301$4,786,930
8$8,725,699$3,186,696$514,816$5,024,186
9$9,161,984$3,348,122$540,557$5,273,305
10$9,620,083$3,517,618$567,585$5,534,880
11$10,101,087$3,695,590$595,964$5,809,533
12$10,606,142$3,882,460$625,762$6,097,919
13$11,136,449$4,078,674$657,050$6,400,724
14$11,693,271$4,284,698$689,903$6,718,670
15$12,277,935$4,501,024$724,398$7,052,513
16$12,891,831$4,728,165$760,618$7,403,048
17$13,536,423$4,966,664$798,649$7,771,110
18$14,213,244$5,217,088$838,581$8,157,575
19$14,923,906$5,480,033$880,510$8,563,363
20$15,670,102$5,756,125$924,536$8,989,440
21$16,453,606$6,046,022$970,763$9,436,822
22$17,276,287$6,350,414$1,019,301$9,906,572
23$18,140,101$6,670,025$1,070,266$10,399,810
24$19,047,106$7,005,617$1,123,779$10,917,710
25$19,999,461$7,357,988$1,179,968$11,461,505
26$20,999,435$7,727,979$1,238,967$12,032,490
27$22,049,407$8,116,468$1,300,915$12,632,023
28$23,151,877$8,524,382$1,365,961$13,261,534
29$24,309,470$8,952,692$1,434,259$13,922,520
30$25,524,944$9,402,417$1,505,972$14,616,555
Total$412,000,001$151,185,633$24,307,999$236,506,369

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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.