New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 Aug 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(5.9%)	$1,504,500
Net Lumpsum Payment	$14,600,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$53,281	$555,316
2	$948,240	-$311,179 -$55,946	$581,115
3	$995,640	-$328,717 -$58,743	$608,180
4	$1,045,440	-$347,143 -$61,681	$636,616
5	$1,097,700	-$366,479 -$64,764	$666,457
6	$1,152,600	-$386,792 -$68,003	$697,805
7	$1,210,200	-$408,104 -$71,402	$730,694
8	$1,270,740	-$430,504 -$74,974	$765,262
9	$1,334,280	-$454,014 -$78,723	$801,543
10	$1,401,000	-$478,700 -$82,659	$839,641
11	$1,471,020	-$504,608 -$86,790	$879,622
12	$1,544,580	-$531,825 -$91,130	$921,625
13	$1,621,800	-$560,396 -$95,686	$965,718
14	$1,702,920	-$590,411 -$100,472	$1,012,037
15	$1,788,060	-$621,913 -$105,496	$1,060,651
16	$1,877,460	-$654,991 -$110,770	$1,111,699
17	$1,971,300	-$689,711 -$116,307	$1,165,282
18	$2,069,880	-$726,186 -$122,123	$1,221,571
19	$2,173,380	-$764,481 -$128,229	$1,280,670
20	$2,282,040	-$804,685 -$134,640	$1,342,715
21	$2,396,160	-$846,910 -$141,373	$1,407,877
22	$2,515,980	-$891,243 -$148,443	$1,476,294
23	$2,641,740	-$937,774 -$155,863	$1,548,103
24	$2,773,860	-$986,659 -$163,658	$1,623,543
25	$2,912,520	-$1,037,963 -$171,839	$1,702,718
26	$3,058,200	-$1,091,864 -$180,434	$1,785,902
27	$3,211,080	-$1,148,430 -$189,454	$1,873,196
28	$3,371,640	-$1,207,837 -$198,927	$1,964,876
29	$3,540,240	-$1,270,219 -$208,874	$2,061,147
30	$3,717,240	-$1,335,709 -$219,317	$2,162,214