USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Mar 27, 2023

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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 $122,200,000 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:Mon, Mar 27, 2023
Jackpot:$122,200,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,839,285$638,723$108,518$1,092,044
2$1,931,250$672,750$113,944$1,144,556
3$2,027,812$708,478$119,641$1,199,693
4$2,129,203$745,993$125,623$1,257,587
5$2,235,663$785,383$131,904$1,318,376
6$2,347,446$826,743$138,499$1,382,204
7$2,464,818$870,171$145,424$1,449,224
8$2,588,059$915,770$152,695$1,519,594
9$2,717,462$963,649$160,330$1,593,483
10$2,853,335$1,013,922$168,347$1,671,067
11$2,996,002$1,066,709$176,764$1,752,529
12$3,145,802$1,122,135$185,602$1,838,065
13$3,303,092$1,180,332$194,882$1,927,878
14$3,468,247$1,241,439$204,627$2,022,181
15$3,641,659$1,305,602$214,858$2,121,200
16$3,823,742$1,372,972$225,601$2,225,169
17$4,014,929$1,443,712$236,881$2,334,337
18$4,215,676$1,517,988$248,725$2,448,963
19$4,426,460$1,595,978$261,161$2,569,321
20$4,647,783$1,677,867$274,219$2,695,696
21$4,880,172$1,763,851$287,930$2,828,390
22$5,124,180$1,854,134$302,327$2,967,719
23$5,380,389$1,948,932$317,443$3,114,015
24$5,649,409$2,048,469$333,315$3,267,625
25$5,931,879$2,152,983$349,981$3,428,915
26$6,228,473$2,262,723$367,480$3,598,270
27$6,539,897$2,377,950$385,854$3,776,093
28$6,866,892$2,498,938$405,147$3,962,807
29$7,210,236$2,625,975$425,404$4,158,857
30$7,570,748$2,759,365$446,674$4,364,709
Total$122,200,000$43,959,636$7,209,800$71,030,567

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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.