USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Jun 5, 2021

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The tax information provided here is based on 2021 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 $285,600,000 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 prize money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Sat, Jun 5, 2021
Jackpot:$285,600,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,298,690$1,554,587$253,623$2,490,480
2$4,513,624$1,634,113$266,304$2,613,207
3$4,739,306$1,717,615$279,619$2,742,071
4$4,976,271$1,805,293$293,600$2,877,378
5$5,225,084$1,897,353$308,280$3,019,451
6$5,486,339$1,994,018$323,694$3,168,627
7$5,760,656$2,095,515$339,879$3,325,262
8$6,048,688$2,202,087$356,873$3,489,729
9$6,351,123$2,313,988$374,716$3,662,419
10$6,668,679$2,431,483$393,452$3,843,743
11$7,002,113$2,554,854$413,125$4,034,134
12$7,352,219$2,684,393$433,781$4,234,045
13$7,719,829$2,820,409$455,470$4,443,950
14$8,105,821$2,963,226$478,243$4,664,352
15$8,511,112$3,113,184$502,156$4,895,773
16$8,936,668$3,270,639$527,263$5,138,765
17$9,383,501$3,435,968$553,627$5,393,907
18$9,852,676$3,609,562$581,308$5,661,806
19$10,345,310$3,791,837$610,373$5,943,100
20$10,862,575$3,983,225$640,892$6,238,458
21$11,405,704$4,184,183$672,937$6,548,585
22$11,975,989$4,395,188$706,583$6,874,218
23$12,574,789$4,616,744$741,913$7,216,132
24$13,203,528$4,849,378$779,008$7,575,142
25$13,863,704$5,093,643$817,959$7,952,103
26$14,556,890$5,350,121$858,856$8,347,912
27$15,284,734$5,619,424$901,799$8,763,511
28$16,048,971$5,902,191$946,889$9,199,890
29$16,851,419$6,199,097$994,234$9,658,088
30$17,693,990$6,510,849$1,043,945$10,139,196
Total$285,600,001$104,594,167$16,850,401$164,155,434

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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.