USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $76,500,000 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, Aug 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$462,869$80,476$820,658
2$1,418,563$483,056$83,695$851,812
3$1,475,305$504,051$87,043$884,212
4$1,534,317$525,885$90,525$917,907
5$1,595,690$548,593$94,146$952,951
6$1,659,518$572,209$97,912$989,397
7$1,725,898$596,770$101,828$1,027,300
8$1,794,934$622,313$105,901$1,066,720
9$1,866,732$648,878$110,137$1,107,716
10$1,941,401$676,506$114,543$1,150,352
11$2,019,057$705,239$119,124$1,194,694
12$2,099,819$735,121$123,889$1,240,809
13$2,183,812$766,198$128,845$1,288,769
14$2,271,165$798,519$133,999$1,338,647
15$2,362,011$832,132$139,359$1,390,521
16$2,456,492$867,090$144,933$1,444,469
17$2,554,751$903,446$150,730$1,500,575
18$2,656,941$941,256$156,760$1,558,926
19$2,763,219$980,579$163,030$1,619,610
20$2,873,748$1,021,474$169,551$1,682,722
21$2,988,698$1,064,006$176,333$1,748,359
22$3,108,246$1,108,239$183,386$1,816,620
23$3,232,575$1,154,241$190,722$1,887,613
24$3,361,878$1,202,083$198,351$1,961,445
25$3,496,354$1,251,839$206,285$2,038,230
26$3,636,208$1,303,585$214,536$2,118,087
27$3,781,656$1,357,400$223,118$2,201,138
28$3,932,922$1,413,369$232,042$2,287,511
29$4,090,239$1,471,576$241,324$2,377,339
30$4,253,849$1,532,112$250,977$2,470,760
Total$76,500,000$27,050,634$4,513,500$44,935,869

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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.