New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Nov 4, 2025 is estimated to be $800 Million, with a cash option of 371.7 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of New Mexico, your state will take 5.9% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Mexico MEGA Millions Jackpot/Cash Option for Tue Nov 4, 2025

Draw Date	Jackpot	Cash Option
Tue Nov 4, 2025	$800,000,000	$371,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$371,700,000
Federal Tax(24%)	$89,208,000
Additional Federal Tax	$48,281,330
State Tax(5.9%)	$21,930,300
Net Lumpsum Payment	$212,280,370

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$12,040,800	-$4,415,426 -$710,407	$6,914,967
2	$12,643,200	-$4,638,314 -$745,949	$7,258,937
3	$13,275,200	-$4,872,154 -$783,237	$7,619,809
4	$13,939,200	-$5,117,834 -$822,413	$7,998,953
5	$14,636,000	-$5,375,650 -$863,524	$8,396,826
6	$15,368,000	-$5,646,490 -$906,712	$8,814,798
7	$16,136,000	-$5,930,650 -$952,024	$9,253,326
8	$16,943,200	-$6,229,314 -$999,649	$9,714,237
9	$17,790,400	-$6,542,778 -$1,049,634	$10,197,988
10	$18,680,000	-$6,871,930 -$1,102,120	$10,705,950
11	$19,613,600	-$7,217,362 -$1,157,202	$11,239,036
12	$20,594,400	-$7,580,258 -$1,215,070	$11,799,072
13	$21,624,000	-$7,961,210 -$1,275,816	$12,386,974
14	$22,705,600	-$8,361,402 -$1,339,630	$13,004,568
15	$23,840,800	-$8,781,426 -$1,406,607	$13,652,767
16	$25,032,800	-$9,222,466 -$1,476,935	$14,333,399
17	$26,284,000	-$9,685,410 -$1,550,756	$15,047,834
18	$27,598,400	-$10,171,738 -$1,628,306	$15,798,356
19	$28,978,400	-$10,682,338 -$1,709,726	$16,586,336
20	$30,427,200	-$11,218,394 -$1,795,205	$17,413,601
21	$31,948,800	-$11,781,386 -$1,884,979	$18,282,435
22	$33,546,400	-$12,372,498 -$1,979,238	$19,194,664
23	$35,223,200	-$12,992,914 -$2,078,169	$20,152,117
24	$36,984,800	-$13,644,706 -$2,182,103	$21,157,991
25	$38,833,600	-$14,328,762 -$2,291,182	$22,213,656
26	$40,776,000	-$15,047,450 -$2,405,784	$23,322,766
27	$42,814,400	-$15,801,658 -$2,526,050	$24,486,692
28	$44,955,200	-$16,593,754 -$2,652,357	$25,709,089
29	$47,203,200	-$17,425,514 -$2,784,989	$26,992,697
30	$49,563,200	-$18,298,714 -$2,924,229	$28,340,257