The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Wed Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(5.9%) | $4,702,300 | | Net Lumpsum Payment | $45,548,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$154,514 |
$1,535,046 |
| 2 |
$2,749,896 |
$977,792
$162,244 |
$1,609,860 |
| 3 |
$2,887,356 |
$1,028,652
$170,354 |
$1,688,350 |
| 4 |
$3,031,776 |
$1,082,088
$178,875 |
$1,770,813 |
| 5 |
$3,183,330 |
$1,138,162
$187,816 |
$1,857,352 |
| 6 |
$3,342,540 |
$1,197,070
$197,210 |
$1,948,260 |
| 7 |
$3,509,580 |
$1,258,875
$207,065 |
$2,043,640 |
| 8 |
$3,685,146 |
$1,323,834
$217,424 |
$2,143,888 |
| 9 |
$3,869,412 |
$1,392,013
$228,295 |
$2,249,104 |
| 10 |
$4,062,900 |
$1,463,603
$239,711 |
$2,359,586 |
| 11 |
$4,265,958 |
$1,538,735
$251,692 |
$2,475,531 |
| 12 |
$4,479,282 |
$1,617,665
$264,278 |
$2,597,339 |
| 13 |
$4,703,220 |
$1,700,522
$277,490 |
$2,725,208 |
| 14 |
$4,938,468 |
$1,787,564
$291,370 |
$2,859,534 |
| 15 |
$5,185,374 |
$1,878,919
$305,937 |
$3,000,518 |
| 16 |
$5,444,634 |
$1,974,845
$321,233 |
$3,148,556 |
| 17 |
$5,716,770 |
$2,075,535
$337,289 |
$3,303,946 |
| 18 |
$6,002,652 |
$2,181,312
$354,156 |
$3,467,184 |
| 19 |
$6,302,802 |
$2,292,367
$371,865 |
$3,638,570 |
| 20 |
$6,617,916 |
$2,408,959
$390,457 |
$3,818,500 |
| 21 |
$6,948,864 |
$2,531,410
$409,983 |
$4,007,471 |
| 22 |
$7,296,342 |
$2,659,977
$430,484 |
$4,205,881 |
| 23 |
$7,661,046 |
$2,794,917
$452,002 |
$4,414,127 |
| 24 |
$8,044,194 |
$2,936,682
$474,607 |
$4,632,905 |
| 25 |
$8,446,308 |
$3,085,464
$498,332 |
$4,862,512 |
| 26 |
$8,868,780 |
$3,241,779
$523,258 |
$5,103,743 |
| 27 |
$9,312,132 |
$3,405,819
$549,416 |
$5,356,897 |
| 28 |
$9,777,756 |
$3,578,100
$576,888 |
$5,622,768 |
| 29 |
$10,266,696 |
$3,759,008
$605,735 |
$5,901,953 |
| 30 |
$10,779,996 |
$3,948,929
$636,020 |
$6,195,047 |
|
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