New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 17, 2026 is estimated to be $395 Million, with a cash option of 183.3 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 Feb 17, 2026

Draw Date	Jackpot	Cash Option
Tue Feb 17, 2026	$395,000,000	$183,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$183,300,000
Federal Tax(24%)	$43,992,000
Additional Federal Tax	$23,789,330
State Tax(5.9%)	$10,814,700
Net Lumpsum Payment	$104,703,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,945,145	-$2,160,034 -$350,764	$3,434,347
2	$6,242,580	-$2,270,085 -$368,312	$3,604,183
3	$6,554,630	-$2,385,543 -$386,723	$3,782,364
4	$6,882,480	-$2,506,848 -$406,066	$3,969,566
5	$7,226,525	-$2,634,145 -$426,365	$4,166,015
6	$7,587,950	-$2,767,872 -$447,689	$4,372,389
7	$7,967,150	-$2,908,176 -$470,062	$4,588,912
8	$8,365,705	-$3,055,641 -$493,577	$4,816,487
9	$8,784,010	-$3,210,414 -$518,257	$5,055,339
10	$9,223,250	-$3,372,933 -$544,172	$5,306,145
11	$9,684,215	-$3,543,490 -$571,369	$5,569,356
12	$10,168,485	-$3,722,670 -$599,941	$5,845,874
13	$10,676,850	-$3,910,765 -$629,934	$6,136,151
14	$11,210,890	-$4,108,360 -$661,443	$6,441,087
15	$11,771,395	-$4,315,747 -$694,512	$6,761,136
16	$12,359,945	-$4,533,510 -$729,237	$7,097,198
17	$12,977,725	-$4,762,089 -$765,686	$7,449,950
18	$13,626,710	-$5,002,213 -$803,976	$7,820,521
19	$14,308,085	-$5,254,322 -$844,177	$8,209,586
20	$15,023,430	-$5,518,999 -$886,382	$8,618,049
21	$15,774,720	-$5,796,977 -$930,708	$9,047,035
22	$16,563,535	-$6,088,838 -$977,249	$9,497,448
23	$17,391,455	-$6,395,169 -$1,026,096	$9,970,190
24	$18,261,245	-$6,716,991 -$1,077,413	$10,466,841
25	$19,174,090	-$7,054,744 -$1,131,271	$10,988,075
26	$20,133,150	-$7,409,596 -$1,187,856	$11,535,698
27	$21,139,610	-$7,781,986 -$1,247,237	$12,110,387
28	$22,196,630	-$8,173,083 -$1,309,601	$12,713,946
29	$23,306,580	-$8,583,765 -$1,375,088	$13,347,727
30	$24,471,830	-$9,014,907 -$1,443,838	$14,013,085