The jackpot for the Powerball draw on Sat Jul 5, 2025, is projected to be $190 Million, with an option for a cash payout of $87 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Mexico residents, the state will deduct 5.9% from your lottery earnings.
New Mexico Powerball Jackpot/Cash Option for Sat Jul 5, 2025 |
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Draw Date | Sat Jul 5, 2025 | Projected Jackpot | $190,000,000 | Cash Value | $87,000,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $87,000,000 | Federal Tax(24%) | $20,880,000 | Additional Federal Tax | $11,270,330 | State Tax(5.9%) | $5,133,000 | Net Lumpsum Payment | $49,716,670 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$2,859,690 |
$1,018,416 $168,722 |
$1,672,552 |
2 |
$3,002,760 |
$1,071,352 $177,163 |
$1,754,245 |
3 |
$3,152,860 |
$1,126,889 $186,019 |
$1,839,952 |
4 |
$3,310,560 |
$1,185,238 $195,323 |
$1,929,999 |
5 |
$3,476,050 |
$1,246,469 $205,087 |
$2,024,494 |
6 |
$3,649,900 |
$1,310,793 $215,344 |
$2,123,763 |
7 |
$3,832,300 |
$1,378,281 $226,106 |
$2,227,913 |
8 |
$4,024,010 |
$1,449,214 $237,417 |
$2,337,379 |
9 |
$4,225,220 |
$1,523,662 $249,288 |
$2,452,270 |
10 |
$4,436,500 |
$1,601,835 $261,754 |
$2,572,911 |
11 |
$4,658,230 |
$1,683,875 $274,836 |
$2,699,519 |
12 |
$4,891,170 |
$1,770,063 $288,579 |
$2,832,528 |
13 |
$5,135,700 |
$1,860,539 $303,006 |
$2,972,155 |
14 |
$5,392,580 |
$1,955,585 $318,162 |
$3,118,833 |
15 |
$5,662,190 |
$2,055,341 $334,069 |
$3,272,780 |
16 |
$5,945,290 |
$2,160,088 $350,772 |
$3,434,430 |
17 |
$6,242,450 |
$2,270,037 $368,305 |
$3,604,108 |
18 |
$6,554,620 |
$2,385,540 $386,723 |
$3,782,357 |
19 |
$6,882,370 |
$2,506,807 $406,060 |
$3,969,503 |
20 |
$7,226,460 |
$2,634,121 $426,361 |
$4,165,978 |
21 |
$7,587,840 |
$2,767,831 $447,683 |
$4,372,326 |
22 |
$7,967,270 |
$2,908,220 $470,069 |
$4,588,981 |
23 |
$8,365,510 |
$3,055,569 $493,565 |
$4,816,376 |
24 |
$8,783,890 |
$3,210,370 $518,250 |
$5,055,270 |
25 |
$9,222,980 |
$3,372,833 $544,156 |
$5,305,991 |
26 |
$9,684,300 |
$3,543,521 $571,374 |
$5,569,405 |
27 |
$10,168,420 |
$3,722,646 $599,937 |
$5,845,837 |
28 |
$10,676,860 |
$3,910,769 $629,935 |
$6,136,156 |
29 |
$11,210,760 |
$4,108,312 $661,435 |
$6,441,013 |
30 |
$11,771,260 |
$4,315,697 $694,504 |
$6,761,059 |
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