New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 2, 2026 is estimated to be $346 Million, with a cash option of 153.8 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 Jun 2, 2026

Draw Date	Jackpot	Cash Option
Tue Jun 2, 2026	$346,000,000	$153,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$153,800,000
Federal Tax(24%)	$36,912,000
Additional Federal Tax	$19,954,330
State Tax(5.9%)	$9,074,200
Net Lumpsum Payment	$87,859,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,207,646	-$1,887,159 -$307,251	$3,013,236
2	$5,468,184	-$1,983,558 -$322,623	$3,162,003
3	$5,741,524	-$2,084,694 -$338,750	$3,318,080
4	$6,028,704	-$2,190,951 -$355,694	$3,482,059
5	$6,330,070	-$2,302,456 -$373,474	$3,654,140
6	$6,646,660	-$2,419,595 -$392,153	$3,834,912
7	$6,978,820	-$2,542,494 -$411,750	$4,024,576
8	$7,327,934	-$2,671,666 -$432,348	$4,223,920
9	$7,694,348	-$2,807,239 -$453,967	$4,433,142
10	$8,079,100	-$2,949,597 -$476,667	$4,652,836
11	$8,482,882	-$3,098,997 -$500,490	$4,883,395
12	$8,907,078	-$3,255,949 -$525,518	$5,125,611
13	$9,352,380	-$3,420,711 -$551,790	$5,379,879
14	$9,820,172	-$3,593,794 -$579,390	$5,646,988
15	$10,311,146	-$3,775,454 -$608,358	$5,927,334
16	$10,826,686	-$3,966,204 -$638,774	$6,221,708
17	$11,367,830	-$4,166,427 -$670,702	$6,530,701
18	$11,936,308	-$4,376,764 -$704,242	$6,855,302
19	$12,533,158	-$4,597,599 -$739,456	$7,196,103
20	$13,159,764	-$4,829,443 -$776,426	$7,553,895
21	$13,817,856	-$5,072,937 -$815,254	$7,929,665
22	$14,508,818	-$5,328,593 -$856,020	$8,324,205
23	$15,234,034	-$5,596,923 -$898,808	$8,738,303
24	$15,995,926	-$5,878,823 -$943,760	$9,173,343
25	$16,795,532	-$6,174,677 -$990,936	$9,629,919
26	$17,635,620	-$6,485,510 -$1,040,502	$10,109,608
27	$18,517,228	-$6,811,705 -$1,092,516	$10,613,007
28	$19,443,124	-$7,154,286 -$1,147,144	$11,141,694
29	$20,415,384	-$7,514,022 -$1,204,508	$11,696,854
30	$21,436,084	-$7,891,681 -$1,264,729	$12,279,674