The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Mon Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(5.9%) | $17,387,300 | | Net Lumpsum Payment | $168,313,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$610,062 |
$5,943,831 |
| 2 |
$10,857,348 |
$3,977,549
$640,584 |
$6,239,215 |
| 3 |
$11,400,078 |
$4,178,359
$672,605 |
$6,549,114 |
| 4 |
$11,970,288 |
$4,389,337
$706,247 |
$6,874,704 |
| 5 |
$12,568,665 |
$4,610,736
$741,551 |
$7,216,378 |
| 6 |
$13,197,270 |
$4,843,320
$778,639 |
$7,575,311 |
| 7 |
$13,856,790 |
$5,087,343
$817,551 |
$7,951,896 |
| 8 |
$14,549,973 |
$5,343,820
$858,448 |
$8,347,705 |
| 9 |
$15,277,506 |
$5,613,008
$901,373 |
$8,763,125 |
| 10 |
$16,041,450 |
$5,895,667
$946,446 |
$9,199,337 |
| 11 |
$16,843,179 |
$6,192,307
$993,748 |
$9,657,124 |
| 12 |
$17,685,441 |
$6,503,944
$1,043,441 |
$10,138,056 |
| 13 |
$18,569,610 |
$6,831,086
$1,095,607 |
$10,642,917 |
| 14 |
$19,498,434 |
$7,174,751
$1,150,408 |
$11,173,275 |
| 15 |
$20,473,287 |
$7,535,447
$1,207,924 |
$11,729,916 |
| 16 |
$21,496,917 |
$7,914,190
$1,268,318 |
$12,314,409 |
| 17 |
$22,571,385 |
$8,311,743
$1,331,712 |
$12,927,930 |
| 18 |
$23,700,126 |
$8,729,377
$1,398,307 |
$13,572,442 |
| 19 |
$24,885,201 |
$9,167,855
$1,468,227 |
$14,249,119 |
| 20 |
$26,129,358 |
$9,628,193
$1,541,632 |
$14,959,533 |
| 21 |
$27,436,032 |
$10,111,662
$1,618,726 |
$15,705,644 |
| 22 |
$28,807,971 |
$10,619,280
$1,699,670 |
$16,489,021 |
| 23 |
$30,247,923 |
$11,152,062
$1,784,627 |
$17,311,234 |
| 24 |
$31,760,697 |
$11,711,788
$1,873,881 |
$18,175,028 |
| 25 |
$33,348,354 |
$12,299,221
$1,967,553 |
$19,081,580 |
| 26 |
$35,016,390 |
$12,916,395
$2,065,967 |
$20,034,028 |
| 27 |
$36,766,866 |
$13,564,071
$2,169,245 |
$21,033,550 |
| 28 |
$38,605,278 |
$14,244,283
$2,277,711 |
$22,083,284 |
| 29 |
$40,535,748 |
$14,958,557
$2,391,609 |
$23,185,582 |
| 30 |
$42,562,398 |
$15,708,418
$2,511,181 |
$24,342,799 |
|
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