USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Jul 16, 1997

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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 $19,800,000 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, Jul 16, 1997
Jackpot:$19,800,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$353,036$93,937$20,829$238,270
2$367,157$98,880$21,662$246,615
3$381,844$104,020$22,529$255,295
4$397,117$109,366$23,430$264,322
5$413,002$114,926$24,367$273,710
6$429,522$120,708$25,342$283,473
7$446,703$126,721$26,355$293,627
8$464,571$132,975$27,410$304,187
9$483,154$139,479$28,506$315,169
10$502,480$146,243$29,646$326,591
11$522,579$153,278$30,832$338,470
12$543,483$160,594$32,065$350,823
13$565,222$168,202$33,348$363,671
14$587,831$176,116$34,682$377,033
15$611,344$184,385$36,069$390,890
16$635,798$193,433$37,512$404,853
17$661,230$202,843$39,013$419,374
18$687,679$212,629$40,573$434,477
19$715,186$222,807$42,196$450,184
20$743,794$233,391$43,884$466,518
21$773,545$244,399$45,639$483,507
22$804,487$255,848$47,465$501,174
23$836,667$267,754$49,363$519,549
24$870,133$280,137$51,338$538,658
25$904,939$293,015$53,391$558,532
26$941,136$306,408$55,527$579,201
27$978,782$320,337$57,748$600,697
28$1,017,933$334,823$60,058$623,052
29$1,058,650$349,888$62,460$646,301
30$1,100,996$365,556$64,959$670,481
Total$19,800,000$6,113,098$1,168,198$12,518,704

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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.