The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(5.9%) | $14,856,200 | | Net Lumpsum Payment | $143,817,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$503,501 |
$4,912,536 |
| 2 |
$8,960,868 |
$3,275,852
$528,691 |
$5,156,325 |
| 3 |
$9,408,798 |
$3,441,586
$555,119 |
$5,412,093 |
| 4 |
$9,879,408 |
$3,615,711
$582,885 |
$5,680,812 |
| 5 |
$10,373,265 |
$3,798,438
$612,023 |
$5,962,804 |
| 6 |
$10,892,070 |
$3,990,396
$642,632 |
$6,259,042 |
| 7 |
$11,436,390 |
$4,191,795
$674,747 |
$6,569,848 |
| 8 |
$12,008,493 |
$4,403,473
$708,501 |
$6,896,519 |
| 9 |
$12,608,946 |
$4,625,640
$743,928 |
$7,239,378 |
| 10 |
$13,239,450 |
$4,858,927
$781,128 |
$7,599,395 |
| 11 |
$13,901,139 |
$5,103,752
$820,167 |
$7,977,220 |
| 12 |
$14,596,281 |
$5,360,954
$861,181 |
$8,374,146 |
| 13 |
$15,326,010 |
$5,630,954
$904,235 |
$8,790,821 |
| 14 |
$16,092,594 |
$5,914,590
$949,463 |
$9,228,541 |
| 15 |
$16,897,167 |
$6,212,282
$996,933 |
$9,687,952 |
| 16 |
$17,741,997 |
$6,524,869
$1,046,778 |
$10,170,350 |
| 17 |
$18,628,785 |
$6,852,981
$1,099,098 |
$10,676,706 |
| 18 |
$19,560,366 |
$7,197,666
$1,154,062 |
$11,208,638 |
| 19 |
$20,538,441 |
$7,559,554
$1,211,768 |
$11,767,119 |
| 20 |
$21,565,278 |
$7,939,483
$1,272,351 |
$12,353,444 |
| 21 |
$22,643,712 |
$8,338,504
$1,335,979 |
$12,969,229 |
| 22 |
$23,776,011 |
$8,757,454
$1,402,785 |
$13,615,772 |
| 23 |
$24,964,443 |
$9,197,174
$1,472,902 |
$14,294,367 |
| 24 |
$26,212,977 |
$9,659,132
$1,546,566 |
$15,007,279 |
| 25 |
$27,523,314 |
$10,143,957
$1,623,876 |
$15,755,481 |
| 26 |
$28,899,990 |
$10,653,327
$1,705,099 |
$16,541,564 |
| 27 |
$30,344,706 |
$11,187,872
$1,790,338 |
$17,366,496 |
| 28 |
$31,861,998 |
$11,749,270
$1,879,858 |
$18,232,870 |
| 29 |
$33,455,268 |
$12,338,780
$1,973,861 |
$19,142,627 |
| 30 |
$35,127,918 |
$12,957,660
$2,072,547 |
$20,097,711 |
|
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