USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Feb 24, 2024

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The tax information provided here is based on 2025 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 $375,900,000 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:Sat, Feb 24, 2024
Jackpot:$375,900,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,657,834$2,050,419$333,812$3,273,603
2$5,940,726$2,155,089$350,503$3,435,134
3$6,237,762$2,264,992$368,028$3,604,742
4$6,549,651$2,380,391$386,429$3,782,830
5$6,877,133$2,501,559$405,751$3,969,823
6$7,220,990$2,628,786$426,038$4,166,165
7$7,582,039$2,762,375$447,340$4,372,324
8$7,961,141$2,902,643$469,707$4,588,791
9$8,359,198$3,049,924$493,193$4,816,082
10$8,777,158$3,204,569$517,852$5,054,737
11$9,216,016$3,366,946$543,745$5,305,325
12$9,676,817$3,537,443$570,932$5,568,442
13$10,160,658$3,716,464$599,479$5,844,715
14$10,668,691$3,904,436$629,453$6,134,802
15$11,202,125$4,101,807$660,925$6,439,393
16$11,762,232$4,309,046$693,972$6,759,214
17$12,350,343$4,526,647$728,670$7,095,026
18$12,967,860$4,755,129$765,104$7,447,628
19$13,616,253$4,995,034$803,359$7,817,860
20$14,297,066$5,246,935$843,527$8,206,604
21$15,011,919$5,511,430$885,703$8,614,786
22$15,762,515$5,789,151$929,988$9,043,376
23$16,550,641$6,080,757$976,488$9,493,396
24$17,378,173$6,386,944$1,025,312$9,965,916
25$18,247,081$6,708,440$1,076,578$10,462,063
26$19,159,436$7,046,011$1,130,407$10,983,018
27$20,117,408$7,400,461$1,186,927$11,530,019
28$21,123,278$7,772,633$1,246,273$12,104,371
29$22,179,442$8,163,414$1,308,587$12,707,441
30$23,288,414$8,573,733$1,374,016$13,340,664
Total$375,900,001$137,793,608$22,178,098$215,928,290

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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.