New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 14, 2025 is estimated to be $600 Million, with a cash option of 277.2 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 Oct 14, 2025

Draw Date	Jackpot	Cash Option
Tue Oct 14, 2025	$600,000,000	$277,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$277,200,000
Federal Tax(24%)	$66,528,000
Additional Federal Tax	$35,996,330
State Tax(5.9%)	$16,354,800
Net Lumpsum Payment	$158,320,870

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$9,030,600	-$3,301,652 -$532,805	$5,196,143
2	$9,482,400	-$3,468,818 -$559,462	$5,454,120
3	$9,956,400	-$3,644,198 -$587,428	$5,724,774
4	$10,454,400	-$3,828,458 -$616,810	$6,009,132
5	$10,977,000	-$4,021,820 -$647,643	$6,307,537
6	$11,526,000	-$4,224,950 -$680,034	$6,621,016
7	$12,102,000	-$4,438,070 -$714,018	$6,949,912
8	$12,707,400	-$4,662,068 -$749,737	$7,295,595
9	$13,342,800	-$4,897,166 -$787,225	$7,658,409
10	$14,010,000	-$5,144,030 -$826,590	$8,039,380
11	$14,710,200	-$5,403,104 -$867,902	$8,439,194
12	$15,445,800	-$5,675,276 -$911,302	$8,859,222
13	$16,218,000	-$5,960,990 -$956,862	$9,300,148
14	$17,029,200	-$6,261,134 -$1,004,723	$9,763,343
15	$17,880,600	-$6,576,152 -$1,054,955	$10,249,493
16	$18,774,600	-$6,906,932 -$1,107,701	$10,759,967
17	$19,713,000	-$7,254,140 -$1,163,067	$11,295,793
18	$20,698,800	-$7,618,886 -$1,221,229	$11,858,685
19	$21,733,800	-$8,001,836 -$1,282,294	$12,449,670
20	$22,820,400	-$8,403,878 -$1,346,404	$13,070,118
21	$23,961,600	-$8,826,122 -$1,413,734	$13,721,744
22	$25,159,800	-$9,269,456 -$1,484,428	$14,405,916
23	$26,417,400	-$9,734,768 -$1,558,627	$15,124,005
24	$27,738,600	-$10,223,612 -$1,636,577	$15,878,411
25	$29,125,200	-$10,736,654 -$1,718,387	$16,670,159
26	$30,582,000	-$11,275,670 -$1,804,338	$17,501,992
27	$32,110,800	-$11,841,326 -$1,894,537	$18,374,937
28	$33,716,400	-$12,435,398 -$1,989,268	$19,291,734
29	$35,402,400	-$13,059,218 -$2,088,742	$20,254,440
30	$37,172,400	-$13,714,118 -$2,193,172	$21,265,110