New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jan 6, 2026 is estimated to be $180 Million, with a cash option of 81.9 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 Jan 6, 2026

Draw Date	Jackpot	Cash Option
Tue Jan 6, 2026	$180,000,000	$81,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$81,900,000
Federal Tax(24%)	$19,656,000
Additional Federal Tax	$10,607,330
State Tax(5.9%)	$4,832,100
Net Lumpsum Payment	$46,804,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,709,180	-$962,727 -$159,842	$1,586,611
2	$2,844,720	-$1,012,877 -$167,838	$1,664,005
3	$2,986,920	-$1,065,491 -$176,228	$1,745,201
4	$3,136,320	-$1,120,769 -$185,043	$1,830,508
5	$3,293,100	-$1,178,777 -$194,293	$1,920,030
6	$3,457,800	-$1,239,716 -$204,010	$2,014,074
7	$3,630,600	-$1,303,652 -$214,205	$2,112,743
8	$3,812,220	-$1,370,852 -$224,921	$2,216,447
9	$4,002,840	-$1,441,381 -$236,168	$2,325,291
10	$4,203,000	-$1,515,440 -$247,977	$2,439,583
11	$4,413,060	-$1,593,163 -$260,371	$2,559,526
12	$4,633,740	-$1,674,814 -$273,391	$2,685,535
13	$4,865,400	-$1,760,528 -$287,059	$2,817,813
14	$5,108,760	-$1,850,572 -$301,417	$2,956,771
15	$5,364,180	-$1,945,077 -$316,487	$3,102,616
16	$5,632,380	-$2,044,311 -$332,310	$3,255,759
17	$5,913,900	-$2,148,473 -$348,920	$3,416,507
18	$6,209,640	-$2,257,897 -$366,369	$3,585,374
19	$6,520,140	-$2,372,782 -$384,688	$3,762,670
20	$6,846,120	-$2,493,395 -$403,921	$3,948,804
21	$7,188,480	-$2,620,068 -$424,120	$4,144,292
22	$7,547,940	-$2,753,068 -$445,328	$4,349,544
23	$7,925,220	-$2,892,662 -$467,588	$4,564,970
24	$8,321,580	-$3,039,315 -$490,973	$4,791,292
25	$8,737,560	-$3,193,228 -$515,516	$5,028,816
26	$9,174,600	-$3,354,932 -$541,301	$5,278,367
27	$9,633,240	-$3,524,629 -$568,361	$5,540,250
28	$10,114,920	-$3,702,851 -$596,780	$5,815,289
29	$10,620,720	-$3,889,997 -$626,622	$6,104,101
30	$11,151,720	-$4,086,467 -$657,951	$6,407,302