New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Sep 2, 2025 is estimated to be $302 Million, with a cash option of 136 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 Sep 2, 2025

Draw Date	Jackpot	Cash Option
Tue Sep 2, 2025	$302,000,000	$136,000,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$136,000,000
Federal Tax(24%)	$32,640,000
Additional Federal Tax	$17,640,330
State Tax(5.9%)	$8,024,000
Net Lumpsum Payment	$77,695,670

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,545,402	-$1,642,129 -$268,179	$2,635,094
2	$4,772,808	-$1,726,269 -$281,596	$2,764,943
3	$5,011,388	-$1,814,544 -$295,672	$2,901,172
4	$5,262,048	-$1,907,288 -$310,461	$3,044,299
5	$5,525,090	-$2,004,614 -$325,980	$3,194,496
6	$5,801,420	-$2,106,856 -$342,284	$3,352,280
7	$6,091,340	-$2,214,126 -$359,389	$3,517,825
8	$6,396,058	-$2,326,872 -$377,367	$3,691,819
9	$6,715,876	-$2,445,205 -$396,237	$3,874,434
10	$7,051,700	-$2,569,459 -$416,050	$4,066,191
11	$7,404,134	-$2,699,860 -$436,844	$4,267,430
12	$7,774,386	-$2,836,853 -$458,689	$4,478,844
13	$8,163,060	-$2,980,663 -$481,621	$4,700,776
14	$8,571,364	-$3,131,735 -$505,710	$4,933,919
15	$8,999,902	-$3,290,294 -$530,994	$5,178,614
16	$9,449,882	-$3,456,787 -$557,543	$5,435,552
17	$9,922,210	-$3,631,548 -$585,410	$5,705,252
18	$10,418,396	-$3,815,137 -$614,685	$5,988,574
19	$10,939,346	-$4,007,888 -$645,421	$6,286,037
20	$11,486,268	-$4,210,250 -$677,690	$6,598,328
21	$12,060,672	-$4,422,779 -$711,580	$6,926,313
22	$12,663,766	-$4,645,924 -$747,162	$7,270,680
23	$13,296,758	-$4,880,131 -$784,509	$7,632,118
24	$13,961,762	-$5,126,182 -$823,744	$8,011,836
25	$14,659,684	-$5,384,413 -$864,921	$8,410,350
26	$15,392,940	-$5,655,718 -$908,183	$8,829,039
27	$16,162,436	-$5,940,432 -$953,584	$9,268,420
28	$16,970,588	-$6,239,448 -$1,001,265	$9,729,875
29	$17,819,208	-$6,553,437 -$1,051,333	$10,214,438
30	$18,710,108	-$6,883,070 -$1,103,896	$10,723,142