New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 Oct 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(5.9%)	$8,236,400
Net Lumpsum Payment	$79,751,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$306,363	$3,004,641
2	$5,452,380	-$1,977,711 -$321,690	$3,152,979
3	$5,724,930	-$2,078,554 -$337,771	$3,308,605
4	$6,011,280	-$2,184,504 -$354,666	$3,472,110
5	$6,311,775	-$2,295,687 -$372,395	$3,643,693
6	$6,627,450	-$2,412,487 -$391,020	$3,823,943
7	$6,958,650	-$2,535,031 -$410,560	$4,013,059
8	$7,306,755	-$2,663,830 -$431,099	$4,211,826
9	$7,672,110	-$2,799,011 -$452,654	$4,420,445
10	$8,055,750	-$2,940,958 -$475,289	$4,639,503
11	$8,458,365	-$3,089,925 -$499,044	$4,869,396
12	$8,881,335	-$3,246,424 -$523,999	$5,110,912
13	$9,325,350	-$3,410,710 -$550,196	$5,364,444
14	$9,791,790	-$3,583,293 -$577,716	$5,630,781
15	$10,281,345	-$3,764,428 -$606,599	$5,910,318
16	$10,795,395	-$3,954,627 -$636,928	$6,203,840
17	$11,334,975	-$4,154,271 -$668,764	$6,511,940
18	$11,901,810	-$4,364,000 -$702,207	$6,835,603
19	$12,496,935	-$4,584,196 -$737,319	$7,175,420
20	$13,121,730	-$4,815,370 -$774,182	$7,532,178
21	$13,777,920	-$5,058,161 -$812,897	$7,906,862
22	$14,466,885	-$5,313,078 -$853,546	$8,300,261
23	$15,190,005	-$5,580,632 -$896,210	$8,713,163
24	$15,949,695	-$5,861,718 -$941,032	$9,146,945
25	$16,746,990	-$6,156,717 -$988,072	$9,602,201
26	$17,584,650	-$6,466,651 -$1,037,494	$10,080,505
27	$18,463,710	-$6,791,903 -$1,089,359	$10,582,448
28	$19,386,930	-$7,133,494 -$1,143,829	$11,109,607
29	$20,356,380	-$7,492,191 -$1,201,026	$11,663,163
30	$21,374,130	-$7,868,758 -$1,261,074	$12,244,298