USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Dec 7, 2011

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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 $53,200,000 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, Dec 7, 2011
Jackpot:$53,200,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$948,561$309,155$55,965$583,441
2$986,504$323,194$58,204$605,106
3$1,025,964$337,794$60,532$627,638
4$1,067,002$352,979$62,953$651,071
5$1,109,683$368,770$65,471$675,441
6$1,154,070$385,194$68,090$700,786
7$1,200,233$402,274$70,814$727,145
8$1,248,242$420,037$73,646$754,558
9$1,298,172$438,511$76,592$783,068
10$1,350,098$457,724$79,656$812,718
11$1,404,102$477,706$82,842$843,555
12$1,460,267$498,486$86,156$875,624
13$1,518,677$520,098$89,602$908,977
14$1,579,424$542,575$93,186$943,663
15$1,642,601$565,950$96,913$979,738
16$1,708,305$590,261$100,790$1,017,255
17$1,776,637$615,544$104,822$1,056,272
18$1,847,703$641,838$109,014$1,096,851
19$1,921,611$669,184$113,375$1,139,052
20$1,998,476$697,624$117,910$1,182,942
21$2,078,415$727,201$122,626$1,228,587
22$2,161,551$757,962$127,532$1,276,058
23$2,248,013$789,953$132,633$1,325,428
24$2,337,934$823,223$137,938$1,376,772
25$2,431,451$857,825$143,456$1,430,171
26$2,528,709$893,810$149,194$1,485,705
27$2,629,857$931,235$155,162$1,543,461
28$2,735,052$970,157$161,368$1,603,527
29$2,844,454$1,010,636$167,823$1,665,995
30$2,958,232$1,052,734$174,536$1,730,963
Total$53,200,000$18,429,634$3,138,801$31,631,568

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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.