The jackpot for the Powerball draw on Sat Feb 21, 2026, is projected to be $190 Million, with an option for a cash payout of $89.1 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 Feb 21, 2026 |
|---|
| Draw Date | Sat Feb 21, 2026 | | Projected Jackpot | $190,000,000 | | Cash Value | $89,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $89,100,000 | | Federal Tax(24%) | $21,384,000 | | Additional Federal Tax | $11,543,330 | | State Tax(5.9%) | $5,256,900 | | Net Lumpsum Payment | $50,915,770 |
| Annuity Payment in 30 Installations |
|---|
| 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 |
|
|
