New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 Million. If you win the Powerball 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 Powerball Jackpot/Cash Option for Mon Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(5.9%)	$9,280,700
Net Lumpsum Payment	$89,857,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$297,483	$2,918,700
2	$5,294,340	-$1,919,236 -$312,366	$3,062,738
3	$5,558,990	-$2,017,157 -$327,980	$3,213,853
4	$5,837,040	-$2,120,035 -$344,385	$3,372,620
5	$6,128,825	-$2,227,996 -$361,601	$3,539,228
6	$6,435,350	-$2,341,410 -$379,686	$3,714,254
7	$6,756,950	-$2,460,402 -$398,660	$3,897,888
8	$7,094,965	-$2,585,467 -$418,603	$4,090,895
9	$7,449,730	-$2,716,730 -$439,534	$4,293,466
10	$7,822,250	-$2,854,563 -$461,513	$4,506,174
11	$8,213,195	-$2,999,213 -$484,579	$4,729,403
12	$8,623,905	-$3,151,175 -$508,810	$4,963,920
13	$9,055,050	-$3,310,699 -$534,248	$5,210,103
14	$9,507,970	-$3,478,279 -$560,970	$5,468,721
15	$9,983,335	-$3,654,164 -$589,017	$5,740,154
16	$10,482,485	-$3,838,850 -$618,467	$6,025,168
17	$11,006,425	-$4,032,708 -$649,379	$6,324,338
18	$11,556,830	-$4,236,357 -$681,853	$6,638,620
19	$12,134,705	-$4,450,171 -$715,948	$6,968,586
20	$12,741,390	-$4,674,645 -$751,742	$7,315,003
21	$13,378,560	-$4,910,398 -$789,335	$7,678,827
22	$14,047,555	-$5,157,926 -$828,806	$8,060,823
23	$14,749,715	-$5,417,725 -$870,233	$8,461,757
24	$15,487,385	-$5,690,663 -$913,756	$8,882,966
25	$16,261,570	-$5,977,111 -$959,433	$9,325,026
26	$17,074,950	-$6,278,062 -$1,007,422	$9,789,466
27	$17,928,530	-$6,593,886 -$1,057,783	$10,276,861
28	$18,824,990	-$6,925,577 -$1,110,674	$10,788,739
29	$19,766,340	-$7,273,876 -$1,166,214	$11,326,250
30	$20,754,590	-$7,639,529 -$1,224,521	$11,890,540