USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Nov 30, 2022

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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 $65,600,000 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 money, as well as deductions claimed.

State:

New Mexico

Drawing Date:Wed, Nov 30, 2022
Jackpot:$65,600,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$987,374$323,516$58,255$605,603
2$1,036,743$341,783$61,168$633,792
3$1,088,580$360,962$64,226$663,391
4$1,143,009$381,101$67,438$694,470
5$1,200,159$402,247$70,809$727,103
6$1,260,167$424,450$74,350$761,368
7$1,323,176$447,763$78,067$797,346
8$1,389,335$472,242$81,971$835,122
9$1,458,801$497,944$86,069$874,788
10$1,531,741$524,932$90,373$916,437
11$1,608,328$553,269$94,891$960,168
12$1,688,745$583,023$99,636$1,006,086
13$1,773,182$614,265$104,618$1,054,299
14$1,861,841$647,069$109,849$1,104,924
15$1,954,933$681,513$115,341$1,158,079
16$2,052,680$717,679$121,108$1,213,893
17$2,155,314$755,654$127,164$1,272,496
18$2,263,080$795,527$133,522$1,334,031
19$2,376,234$837,394$140,198$1,398,642
20$2,495,045$881,355$147,208$1,466,483
21$2,619,798$927,513$154,568$1,537,717
22$2,750,787$975,979$162,296$1,612,512
23$2,888,327$1,026,869$170,411$1,691,047
24$3,032,743$1,080,303$178,932$1,773,509
25$3,184,380$1,136,408$187,878$1,860,093
26$3,343,599$1,195,320$197,272$1,951,007
27$3,510,779$1,257,176$207,136$2,046,467
28$3,686,318$1,322,125$217,493$2,146,700
29$3,870,634$1,390,322$228,367$2,251,944
30$4,064,166$1,461,929$239,786$2,362,451
Total$65,600,000$23,017,632$3,870,400$38,711,968

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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.