New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(5.9%)	$3,274,500
Net Lumpsum Payment	$31,730,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$115,441	$1,156,906
2	$2,054,520	-$720,503 -$121,217	$1,212,800
3	$2,157,220	-$758,502 -$127,276	$1,271,442
4	$2,265,120	-$798,425 -$133,642	$1,333,053
5	$2,378,350	-$840,320 -$140,323	$1,397,707
6	$2,497,300	-$884,331 -$147,341	$1,465,628
7	$2,622,100	-$930,507 -$154,704	$1,536,889
8	$2,753,270	-$979,040 -$162,443	$1,611,787
9	$2,890,940	-$1,029,978 -$170,565	$1,690,397
10	$3,035,500	-$1,083,465 -$179,095	$1,772,940
11	$3,187,210	-$1,139,598 -$188,045	$1,859,567
12	$3,346,590	-$1,198,569 -$197,449	$1,950,572
13	$3,513,900	-$1,260,473 -$207,320	$2,046,107
14	$3,689,660	-$1,325,505 -$217,690	$2,146,465
15	$3,874,130	-$1,393,758 -$228,574	$2,251,798
16	$4,067,830	-$1,465,427 -$240,002	$2,362,401
17	$4,271,150	-$1,540,656 -$251,998	$2,478,496
18	$4,484,740	-$1,619,684 -$264,600	$2,600,456
19	$4,708,990	-$1,702,657 -$277,830	$2,728,503
20	$4,944,420	-$1,789,766 -$291,721	$2,862,933
21	$5,191,680	-$1,881,252 -$306,309	$3,004,119
22	$5,451,290	-$1,977,308 -$321,626	$3,152,356
23	$5,723,770	-$2,078,125 -$337,702	$3,307,943
24	$6,010,030	-$2,184,041 -$354,592	$3,471,397
25	$6,310,460	-$2,295,201 -$372,317	$3,642,942
26	$6,626,100	-$2,411,987 -$390,940	$3,823,173
27	$6,957,340	-$2,534,546 -$410,483	$4,012,311
28	$7,305,220	-$2,663,262 -$431,008	$4,210,950
29	$7,670,520	-$2,798,423 -$452,561	$4,419,536
30	$8,054,020	-$2,940,318 -$475,187	$4,638,515