USA Mega

New Mexico Powerball Jackpot Annuity Payout Schedule for Sep 7, 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 $111,500,000 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, Sep 7, 2024
Jackpot:$111,500,000
Federal Tax:37% marginal rate
State Tax: 5.9%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,678,235$579,135$99,016$1,000,084
2$1,762,147$610,182$103,967$1,047,998
3$1,850,254$642,782$109,165$1,098,307
4$1,942,767$677,011$114,623$1,151,132
5$2,039,905$712,953$120,354$1,206,598
6$2,141,900$750,691$126,372$1,264,837
7$2,248,995$790,316$132,691$1,325,989
8$2,361,445$831,922$139,325$1,390,197
9$2,479,517$875,609$146,292$1,457,617
10$2,603,493$921,480$153,606$1,528,407
11$2,733,668$969,645$161,286$1,602,737
12$2,870,351$1,020,218$169,351$1,680,783
13$3,013,869$1,073,319$177,818$1,762,731
14$3,164,562$1,129,076$186,709$1,848,777
15$3,322,791$1,187,620$196,045$1,939,126
16$3,488,930$1,249,092$205,847$2,033,991
17$3,663,377$1,313,637$216,139$2,133,600
18$3,846,545$1,381,410$226,946$2,238,190
19$4,038,873$1,452,571$238,293$2,348,009
20$4,240,816$1,527,290$250,208$2,463,318
21$4,452,857$1,605,745$262,719$2,584,394
22$4,675,500$1,688,123$275,854$2,711,523
23$4,909,275$1,774,619$289,647$2,845,008
24$5,154,739$1,865,441$304,130$2,985,168
25$5,412,476$1,960,804$319,336$3,132,336
26$5,683,099$2,060,935$335,303$3,286,862
27$5,967,254$2,166,072$352,068$3,449,115
28$6,265,617$2,276,466$369,671$3,619,480
29$6,578,898$2,392,380$388,155$3,798,363
30$6,907,843$2,514,090$407,563$3,986,191
Total$111,500,000$40,000,634$6,578,499$64,920,868

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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.