The jackpot for the Powerball draw on Sat May 10, 2025, is projected to be $82 Million, with an option for a cash payout of $37.7 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 Sat May 10, 2025 |
|---|
| Draw Date | Sat May 10, 2025 | | Projected Jackpot | $82,000,000 | | Cash Value | $37,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $37,700,000 | | Federal Tax(24%) | $9,048,000 | | Additional Federal Tax | $4,861,330 | | State Tax(5.9%) | $2,224,300 | | Net Lumpsum Payment | $21,566,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,234,182 |
$416,978
$72,817 |
$744,387 |
| 2 |
$1,295,928 |
$439,824
$76,460 |
$779,644 |
| 3 |
$1,360,708 |
$463,792
$80,282 |
$816,634 |
| 4 |
$1,428,768 |
$488,975
$84,297 |
$855,496 |
| 5 |
$1,500,190 |
$515,401
$88,511 |
$896,278 |
| 6 |
$1,575,220 |
$543,162
$92,938 |
$939,120 |
| 7 |
$1,653,940 |
$572,288
$97,582 |
$984,070 |
| 8 |
$1,736,678 |
$602,901
$102,464 |
$1,031,313 |
| 9 |
$1,823,516 |
$635,031
$107,587 |
$1,080,898 |
| 10 |
$1,914,700 |
$668,769
$112,967 |
$1,132,964 |
| 11 |
$2,010,394 |
$704,176
$118,613 |
$1,187,605 |
| 12 |
$2,110,926 |
$741,373
$124,545 |
$1,245,008 |
| 13 |
$2,216,460 |
$780,421
$130,771 |
$1,305,268 |
| 14 |
$2,327,324 |
$821,440
$137,312 |
$1,368,572 |
| 15 |
$2,443,682 |
$864,493
$144,177 |
$1,435,012 |
| 16 |
$2,565,862 |
$909,699
$151,386 |
$1,504,777 |
| 17 |
$2,694,110 |
$957,151
$158,952 |
$1,578,007 |
| 18 |
$2,828,836 |
$1,007,000
$166,901 |
$1,654,935 |
| 19 |
$2,970,286 |
$1,059,336
$175,247 |
$1,735,703 |
| 20 |
$3,118,788 |
$1,114,282
$184,008 |
$1,820,498 |
| 21 |
$3,274,752 |
$1,171,989
$193,210 |
$1,909,553 |
| 22 |
$3,438,506 |
$1,232,578
$202,872 |
$2,003,056 |
| 23 |
$3,610,378 |
$1,296,170
$213,012 |
$2,101,196 |
| 24 |
$3,790,942 |
$1,362,979
$223,666 |
$2,204,297 |
| 25 |
$3,980,444 |
$1,433,095
$234,846 |
$2,312,503 |
| 26 |
$4,179,540 |
$1,506,760
$246,593 |
$2,426,187 |
| 27 |
$4,388,476 |
$1,584,067
$258,920 |
$2,545,489 |
| 28 |
$4,607,908 |
$1,665,256
$271,867 |
$2,670,785 |
| 29 |
$4,838,328 |
$1,750,512
$285,461 |
$2,802,355 |
| 30 |
$5,080,228 |
$1,840,015
$299,733 |
$2,940,480 |
|
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