USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Nov 21, 2022

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2022 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 $20,000,000 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 prize money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Mon, Nov 21, 2022
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,113$17,761$204,155
2$316,080$84,381$18,649$213,050
3$331,884$89,912$19,581$222,391
4$348,478$95,720$20,560$232,198
5$365,902$101,819$21,588$242,495
6$384,197$108,222$22,668$253,308
7$403,407$114,946$23,801$264,661
8$423,578$122,005$24,991$276,581
9$444,757$129,418$26,241$289,098
10$466,994$137,201$27,553$302,241
11$490,344$145,373$28,930$316,040
12$514,861$153,954$30,377$330,530
13$540,604$162,979$31,896$345,730
14$567,635$172,980$33,490$361,164
15$596,016$183,481$35,165$377,370
16$625,817$194,507$36,923$394,387
17$657,108$206,085$38,769$412,254
18$689,963$218,241$40,708$431,014
19$724,461$231,006$42,743$450,712
20$760,685$244,408$44,880$471,396
21$798,719$258,481$47,124$493,113
22$838,655$273,257$49,481$515,917
23$880,587$288,772$51,955$539,860
24$924,617$305,063$54,552$565,001
25$970,848$322,169$57,280$591,399
26$1,019,390$340,129$60,144$619,117
27$1,070,360$358,988$63,151$648,220
28$1,123,878$378,790$66,309$678,779
29$1,180,071$399,581$69,624$710,866
30$1,239,075$421,413$73,105$744,557
Total$20,000,000$6,322,394$1,179,999$12,497,604

◄ Back to Jackpot Analysis

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.