USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Apr 23, 2008

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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 $126,400,000 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, Apr 23, 2008
Jackpot:$126,400,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,253,725$792,066$132,970$1,328,689
2$2,343,874$825,421$138,289$1,380,164
3$2,437,628$860,110$143,820$1,433,698
4$2,535,134$896,187$149,573$1,489,374
5$2,636,539$933,707$155,556$1,547,276
6$2,742,000$972,728$161,778$1,607,495
7$2,851,681$1,013,310$168,249$1,670,122
8$2,965,748$1,055,514$174,979$1,735,254
9$3,084,378$1,099,407$181,978$1,802,992
10$3,207,753$1,145,056$189,257$1,873,439
11$3,336,063$1,192,531$196,828$1,946,704
12$3,469,505$1,241,905$204,701$2,022,900
13$3,608,286$1,293,253$212,889$2,102,143
14$3,752,617$1,346,656$221,404$2,184,557
15$3,902,722$1,402,195$230,261$2,270,266
16$4,058,831$1,459,955$239,471$2,359,404
17$4,221,184$1,520,026$249,050$2,452,108
18$4,390,031$1,582,499$259,012$2,548,520
19$4,565,632$1,647,472$269,372$2,648,788
20$4,748,258$1,715,043$280,147$2,753,067
21$4,938,188$1,785,317$291,353$2,861,518
22$5,135,715$1,858,402$303,007$2,974,306
23$5,341,144$1,934,411$315,128$3,091,606
24$5,554,790$2,013,460$327,733$3,213,597
25$5,776,981$2,095,671$340,842$3,340,469
26$6,008,061$2,181,170$354,476$3,472,415
27$6,248,383$2,270,090$368,655$3,609,639
28$6,498,318$2,362,566$383,401$3,752,352
29$6,758,251$2,458,741$398,737$3,900,774
30$7,028,581$2,558,763$414,686$4,055,132
Total$126,400,000$45,513,632$7,457,602$73,428,768

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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.