USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Mar 4, 2024

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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 $462,700,000 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 4, 2024
Jackpot:$462,700,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,964,299$2,534,978$410,894$4,018,427
2$7,312,514$2,663,818$431,438$4,217,258
3$7,678,140$2,799,099$453,010$4,426,030
4$8,062,047$2,941,145$475,661$4,645,241
5$8,465,149$3,090,293$499,444$4,875,412
6$8,888,406$3,246,898$524,416$5,117,092
7$9,332,827$3,411,334$550,637$5,370,856
8$9,799,468$3,583,991$578,169$5,637,309
9$10,289,442$3,765,281$607,077$5,917,083
10$10,803,914$3,955,636$637,431$6,210,847
11$11,344,109$4,155,508$669,302$6,519,299
12$11,911,315$4,365,374$702,768$6,843,173
13$12,506,880$4,585,734$737,906$7,183,241
14$13,132,225$4,817,111$774,801$7,540,313
15$13,788,836$5,060,057$813,541$7,915,237
16$14,478,278$5,315,150$854,218$8,308,909
17$15,202,191$5,582,999$896,929$8,722,263
18$15,962,301$5,864,239$941,776$9,156,286
19$16,760,416$6,159,542$988,865$9,612,010
20$17,598,437$6,469,609$1,038,308$10,090,520
21$18,478,359$6,795,180$1,090,223$10,592,955
22$19,402,276$7,137,030$1,144,734$11,120,512
23$20,372,390$7,495,972$1,201,971$11,674,447
24$21,391,010$7,872,861$1,262,070$12,256,079
25$22,460,560$8,268,595$1,325,173$12,866,792
26$23,583,589$8,684,116$1,391,432$13,508,041
27$24,762,768$9,120,412$1,461,003$14,181,353
28$26,000,906$9,578,523$1,534,053$14,888,330
29$27,300,951$10,059,540$1,610,756$15,630,655
30$28,665,999$10,564,607$1,691,294$16,410,098
Total$462,700,001$169,944,632$27,299,300$265,456,068

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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.