New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 Aug 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(5.9%)	$4,006,100
Net Lumpsum Payment	$38,810,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$133,201	$1,328,788
2	$2,370,600	-$837,452 -$139,865	$1,393,283
3	$2,489,100	-$881,297 -$146,857	$1,460,946
4	$2,613,600	-$927,362 -$154,202	$1,532,036
5	$2,744,250	-$975,703 -$161,911	$1,606,636
6	$2,881,500	-$1,026,485 -$170,009	$1,685,006
7	$3,025,500	-$1,079,765 -$178,505	$1,767,230
8	$3,176,850	-$1,135,765 -$187,434	$1,853,651
9	$3,335,700	-$1,194,539 -$196,806	$1,944,355
10	$3,502,500	-$1,256,255 -$206,648	$2,039,597
11	$3,677,550	-$1,321,024 -$216,975	$2,139,551
12	$3,861,450	-$1,389,067 -$227,826	$2,244,557
13	$4,054,500	-$1,460,495 -$239,216	$2,354,789
14	$4,257,300	-$1,535,531 -$251,181	$2,470,588
15	$4,470,150	-$1,614,286 -$263,739	$2,592,125
16	$4,693,650	-$1,696,981 -$276,925	$2,719,744
17	$4,928,250	-$1,783,783 -$290,767	$2,853,700
18	$5,174,700	-$1,874,969 -$305,307	$2,994,424
19	$5,433,450	-$1,970,707 -$320,574	$3,142,169
20	$5,705,100	-$2,071,217 -$336,601	$3,297,282
21	$5,990,400	-$2,176,778 -$353,434	$3,460,188
22	$6,289,950	-$2,287,612 -$371,107	$3,631,231
23	$6,604,350	-$2,403,940 -$389,657	$3,810,753
24	$6,934,650	-$2,526,151 -$409,144	$3,999,355
25	$7,281,300	-$2,654,411 -$429,597	$4,197,292
26	$7,645,500	-$2,789,165 -$451,085	$4,405,250
27	$8,027,700	-$2,930,579 -$473,634	$4,623,487
28	$8,429,100	-$3,079,097 -$497,317	$4,852,686
29	$8,850,600	-$3,235,052 -$522,185	$5,093,363
30	$9,293,100	-$3,398,777 -$548,293	$5,346,030