The jackpot for the Powerball draw on Sat Jan 10, 2026, is projected to be $124 Million, with an option for a cash payout of $56 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 Jan 10, 2026 |
|---|
| Draw Date | Sat Jan 10, 2026 | | Projected Jackpot | $124,000,000 | | Cash Value | $56,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $56,000,000 | | Federal Tax(24%) | $13,440,000 | | Additional Federal Tax | $7,240,330 | | State Tax(5.9%) | $3,304,000 | | Net Lumpsum Payment | $32,015,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,866,324 |
$650,870
$110,113 |
$1,105,341 |
| 2 |
$1,959,696 |
$685,418
$115,622 |
$1,158,656 |
| 3 |
$2,057,656 |
$721,663
$121,402 |
$1,214,591 |
| 4 |
$2,160,576 |
$759,744
$127,474 |
$1,273,358 |
| 5 |
$2,268,580 |
$799,705
$133,846 |
$1,335,029 |
| 6 |
$2,382,040 |
$841,685
$140,540 |
$1,399,815 |
| 7 |
$2,501,080 |
$885,730
$147,564 |
$1,467,786 |
| 8 |
$2,626,196 |
$932,023
$154,946 |
$1,539,227 |
| 9 |
$2,757,512 |
$980,610
$162,693 |
$1,614,209 |
| 10 |
$2,895,400 |
$1,031,628
$170,829 |
$1,692,943 |
| 11 |
$3,040,108 |
$1,085,170
$179,366 |
$1,775,572 |
| 12 |
$3,192,132 |
$1,141,419
$188,336 |
$1,862,377 |
| 13 |
$3,351,720 |
$1,200,467
$197,751 |
$1,953,502 |
| 14 |
$3,519,368 |
$1,262,497
$207,643 |
$2,049,228 |
| 15 |
$3,695,324 |
$1,327,600
$218,024 |
$2,149,700 |
| 16 |
$3,880,084 |
$1,395,961
$228,925 |
$2,255,198 |
| 17 |
$4,074,020 |
$1,467,718
$240,367 |
$2,365,935 |
| 18 |
$4,277,752 |
$1,543,099
$252,387 |
$2,482,266 |
| 19 |
$4,491,652 |
$1,622,242
$265,007 |
$2,604,403 |
| 20 |
$4,716,216 |
$1,705,330
$278,257 |
$2,732,629 |
| 21 |
$4,952,064 |
$1,792,594
$292,172 |
$2,867,298 |
| 22 |
$5,199,692 |
$1,884,216
$306,782 |
$3,008,694 |
| 23 |
$5,459,596 |
$1,980,381
$322,116 |
$3,157,099 |
| 24 |
$5,732,644 |
$2,081,409
$338,226 |
$3,313,009 |
| 25 |
$6,019,208 |
$2,187,437
$355,133 |
$3,476,638 |
| 26 |
$6,320,280 |
$2,298,834
$372,897 |
$3,648,549 |
| 27 |
$6,636,232 |
$2,415,736
$391,538 |
$3,828,958 |
| 28 |
$6,968,056 |
$2,538,511
$411,115 |
$4,018,430 |
| 29 |
$7,316,496 |
$2,667,434
$431,673 |
$4,217,389 |
| 30 |
$7,682,296 |
$2,802,780
$453,255 |
$4,426,261 |
|
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