New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 17, 2025 is estimated to be $280 Million, with a cash option of 126.1 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 17, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 17, 2025	$280,000,000	$126,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$126,100,000
Federal Tax(24%)	$30,264,000
Additional Federal Tax	$16,353,330
State Tax(5.9%)	$7,439,900
Net Lumpsum Payment	$72,042,770

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$248,643	$2,446,023
2	$4,425,120	-$1,597,625 -$261,082	$2,566,413
3	$4,646,320	-$1,679,469 -$274,133	$2,692,718
4	$4,878,720	-$1,765,457 -$287,844	$2,825,419
5	$5,122,600	-$1,855,692 -$302,233	$2,964,675
6	$5,378,800	-$1,950,486 -$317,349	$3,110,965
7	$5,647,600	-$2,049,942 -$333,208	$3,264,450
8	$5,930,120	-$2,154,475 -$349,877	$3,425,768
9	$6,226,640	-$2,264,187 -$367,372	$3,595,081
10	$6,538,000	-$2,379,390 -$385,742	$3,772,868
11	$6,864,760	-$2,500,292 -$405,021	$3,959,447
12	$7,208,040	-$2,627,305 -$425,274	$4,155,461
13	$7,568,400	-$2,760,638 -$446,536	$4,361,226
14	$7,946,960	-$2,900,706 -$468,871	$4,577,383
15	$8,344,280	-$3,047,714 -$492,313	$4,804,253
16	$8,761,480	-$3,202,078 -$516,927	$5,042,475
17	$9,199,400	-$3,364,108 -$542,765	$5,292,527
18	$9,659,440	-$3,534,323 -$569,907	$5,555,210
19	$10,142,440	-$3,713,033 -$598,404	$5,831,003
20	$10,649,520	-$3,900,653 -$628,322	$6,120,545
21	$11,182,080	-$4,097,700 -$659,743	$6,424,637
22	$11,741,240	-$4,304,589 -$692,733	$6,743,918
23	$12,328,120	-$4,521,735 -$727,359	$7,079,026
24	$12,944,680	-$4,749,862 -$763,736	$7,431,082
25	$13,591,760	-$4,989,282 -$801,914	$7,800,564
26	$14,271,600	-$5,240,822 -$842,024	$8,188,754
27	$14,985,040	-$5,504,795 -$884,117	$8,596,128
28	$15,734,320	-$5,782,029 -$928,325	$9,023,966
29	$16,521,120	-$6,073,145 -$974,746	$9,473,229
30	$17,347,120	-$6,378,765 -$1,023,480	$9,944,875