The jackpot for the Powerball draw on Sat Aug 2, 2025, is projected to be $410 Million, with an option for a cash payout of $184.9 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 Aug 2, 2025 |
|---|
| Draw Date | Sat Aug 2, 2025 | | Projected Jackpot | $410,000,000 | | Cash Value | $184,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $184,900,000 | | Federal Tax(24%) | $44,376,000 | | Additional Federal Tax | $23,997,330 | | State Tax(5.9%) | $10,909,100 | | Net Lumpsum Payment | $105,617,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,170,910 |
$2,243,567
$364,084 |
$3,563,259 |
| 2 |
$6,479,640 |
$2,357,797
$382,299 |
$3,739,544 |
| 3 |
$6,803,540 |
$2,477,640
$401,409 |
$3,924,491 |
| 4 |
$7,143,840 |
$2,603,551
$421,487 |
$4,118,802 |
| 5 |
$7,500,950 |
$2,735,682
$442,556 |
$4,322,712 |
| 6 |
$7,876,100 |
$2,874,487
$464,690 |
$4,536,923 |
| 7 |
$8,269,700 |
$3,020,119
$487,912 |
$4,761,669 |
| 8 |
$8,683,390 |
$3,173,185
$512,320 |
$4,997,885 |
| 9 |
$9,117,580 |
$3,333,835
$537,937 |
$5,245,808 |
| 10 |
$9,573,500 |
$3,502,525
$564,837 |
$5,506,138 |
| 11 |
$10,051,970 |
$3,679,559
$593,066 |
$5,779,345 |
| 12 |
$10,554,630 |
$3,865,543
$622,723 |
$6,066,364 |
| 13 |
$11,082,300 |
$4,060,781
$653,856 |
$6,367,663 |
| 14 |
$11,636,620 |
$4,265,880
$686,561 |
$6,684,179 |
| 15 |
$12,218,410 |
$4,481,142
$720,886 |
$7,016,382 |
| 16 |
$12,829,310 |
$4,707,175
$756,929 |
$7,365,206 |
| 17 |
$13,470,550 |
$4,944,434
$794,762 |
$7,731,354 |
| 18 |
$14,144,180 |
$5,193,677
$834,507 |
$8,115,996 |
| 19 |
$14,851,430 |
$5,455,359
$876,234 |
$8,519,837 |
| 20 |
$15,593,940 |
$5,730,088
$920,042 |
$8,943,810 |
| 21 |
$16,373,760 |
$6,018,622
$966,052 |
$9,389,086 |
| 22 |
$17,192,530 |
$6,321,566
$1,014,359 |
$9,856,605 |
| 23 |
$18,051,890 |
$6,639,530
$1,065,062 |
$10,347,298 |
| 24 |
$18,954,710 |
$6,973,573
$1,118,328 |
$10,862,809 |
| 25 |
$19,902,220 |
$7,324,152
$1,174,231 |
$11,403,837 |
| 26 |
$20,897,700 |
$7,692,479
$1,232,964 |
$11,972,257 |
| 27 |
$21,942,380 |
$8,079,011
$1,294,600 |
$12,568,769 |
| 28 |
$23,039,540 |
$8,484,960
$1,359,333 |
$13,195,247 |
| 29 |
$24,191,640 |
$8,911,237
$1,427,307 |
$13,853,096 |
| 30 |
$25,401,140 |
$9,358,752
$1,498,667 |
$14,543,721 |
|
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