USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Jun 8, 2002

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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 $30,600,000 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:Sat, Jun 8, 2002
Jackpot:$30,600,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$545,601$161,335$32,190$352,075
2$567,425$168,974$33,478$364,973
3$590,122$176,917$34,817$378,387
4$613,727$185,267$36,210$392,250
5$638,276$194,350$37,658$406,268
6$663,807$203,796$39,165$420,846
7$690,359$213,621$40,731$436,007
8$717,974$223,838$42,360$451,775
9$746,693$234,464$44,055$468,174
10$776,560$245,515$45,817$485,228
11$807,623$257,008$47,650$502,965
12$839,928$268,961$49,556$521,411
13$873,525$281,392$51,538$540,595
14$908,466$294,320$53,599$560,546
15$944,804$307,765$55,743$581,296
16$982,597$321,749$57,973$602,875
17$1,021,901$336,291$60,292$625,317
18$1,062,777$351,415$62,704$648,658
19$1,105,288$367,144$65,212$672,931
20$1,149,499$383,502$67,820$698,176
21$1,195,479$400,515$70,533$724,431
22$1,243,298$418,208$73,355$751,736
23$1,293,030$436,609$76,289$780,132
24$1,344,751$455,746$79,340$809,665
25$1,398,541$475,648$82,514$840,379
26$1,454,483$496,346$85,815$872,322
27$1,512,662$517,873$89,247$905,542
28$1,573,169$540,260$92,817$940,092
29$1,636,096$563,543$96,530$976,023
30$1,701,539$587,757$100,391$1,013,391
Total$30,600,000$10,070,129$1,805,399$18,724,466

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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.