USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Sep 21, 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 $12,000,000 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:Sat, Sep 21, 2002
Jackpot:$12,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$213,961$46,154$12,624$155,183
2$222,520$48,893$13,129$160,498
3$231,420$51,741$13,654$166,026
4$240,677$54,703$14,200$171,774
5$250,304$57,981$14,768$177,555
6$260,317$61,486$15,359$183,472
7$270,729$65,130$15,973$189,626
8$281,558$68,920$16,612$196,026
9$292,821$72,862$17,276$202,682
10$304,533$76,961$17,967$209,605
11$316,715$81,225$18,686$216,804
12$329,383$85,659$19,434$224,291
13$342,559$90,270$20,211$232,077
14$356,261$95,066$21,019$240,176
15$370,512$100,054$21,860$248,598
16$385,332$105,241$22,735$257,356
17$400,745$110,636$23,644$266,466
18$416,775$116,246$24,590$275,939
19$433,446$122,081$25,573$285,792
20$450,784$128,149$26,596$296,039
21$468,815$134,460$27,660$306,695
22$487,568$141,024$28,767$317,778
23$507,071$147,849$29,917$329,304
24$527,353$154,948$31,114$341,291
25$548,448$162,331$32,358$353,758
26$570,386$170,010$33,653$366,723
27$593,201$177,995$34,999$380,207
28$616,929$186,451$36,399$394,079
29$641,606$195,582$37,855$408,169
30$667,270$205,078$39,369$422,824
Total$12,000,000$3,315,186$708,001$7,976,813

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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.