New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jul 7, 2025 is estimated to be $203 Million, with a cash option of 92.5 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 Jul 7, 2025

Draw Date	Jackpot	Cash Option
Mon Jul 7, 2025	$203,000,000	$92,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$92,500,000
Federal Tax(24%)	$22,200,000
Additional Federal Tax	$11,985,330
State Tax(5.9%)	$5,457,500
Net Lumpsum Payment	$52,857,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,055,353	-$1,090,811 -$180,266	$1,784,276
2	$3,208,212	-$1,147,369 -$189,285	$1,871,558
3	$3,368,582	-$1,206,706 -$198,746	$1,963,130
4	$3,537,072	-$1,269,047 -$208,687	$2,059,338
5	$3,713,885	-$1,334,468 -$219,119	$2,160,298
6	$3,899,630	-$1,403,193 -$230,078	$2,266,359
7	$4,094,510	-$1,475,299 -$241,576	$2,377,635
8	$4,299,337	-$1,551,085 -$253,661	$2,494,591
9	$4,514,314	-$1,630,627 -$266,345	$2,617,342
10	$4,740,050	-$1,714,149 -$279,663	$2,746,238
11	$4,976,951	-$1,801,802 -$293,640	$2,881,509
12	$5,225,829	-$1,893,887 -$308,324	$3,023,618
13	$5,487,090	-$1,990,554 -$323,738	$3,172,798
14	$5,761,546	-$2,092,102 -$339,931	$3,329,513
15	$6,049,603	-$2,198,683 -$356,927	$3,493,993
16	$6,352,073	-$2,310,597 -$374,772	$3,666,704
17	$6,669,565	-$2,428,069 -$393,504	$3,847,992
18	$7,003,094	-$2,551,475 -$413,183	$4,038,436
19	$7,353,269	-$2,681,040 -$433,843	$4,238,386
20	$7,720,902	-$2,817,064 -$455,533	$4,448,305
21	$8,107,008	-$2,959,923 -$478,313	$4,668,772
22	$8,512,399	-$3,109,918 -$502,232	$4,900,249
23	$8,937,887	-$3,267,349 -$527,335	$5,143,203
24	$9,384,893	-$3,432,741 -$553,709	$5,398,443
25	$9,854,026	-$3,606,320 -$581,388	$5,666,318
26	$10,346,910	-$3,788,687 -$610,468	$5,947,755
27	$10,864,154	-$3,980,067 -$640,985	$6,243,102
28	$11,407,382	-$4,181,062 -$673,036	$6,553,284
29	$11,977,812	-$4,392,121 -$706,691	$6,879,000
30	$12,576,662	-$4,613,695 -$742,023	$7,220,944