The jackpot for the MEGA Millions draw on Fri Jul 11, 2025, is projected to be $80 Million, with an option for a cash payout of $35.8 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Fri Jul 11, 2025 |
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Draw Date | Fri Jul 11, 2025 | Projected Jackpot | $80,000,000 | Cash Value | $35,800,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $35,800,000 | Federal Tax(24%) | $8,592,000 | Additional Federal Tax | $4,614,330 | State Tax(5.9%) | $2,112,200 | Net Lumpsum Payment | $20,481,470 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$1,204,080 |
$405,840 $71,041 |
$727,199 |
2 |
$1,264,320 |
$428,129 $74,595 |
$761,596 |
3 |
$1,327,520 |
$451,513 $78,324 |
$797,683 |
4 |
$1,393,920 |
$476,081 $82,241 |
$835,598 |
5 |
$1,463,600 |
$501,862 $86,352 |
$875,386 |
6 |
$1,536,800 |
$528,946 $90,671 |
$917,183 |
7 |
$1,613,600 |
$557,362 $95,202 |
$961,036 |
8 |
$1,694,320 |
$587,229 $99,965 |
$1,007,126 |
9 |
$1,779,040 |
$618,575 $104,963 |
$1,055,502 |
10 |
$1,868,000 |
$651,490 $110,212 |
$1,106,298 |
11 |
$1,961,360 |
$686,034 $115,720 |
$1,159,606 |
12 |
$2,059,440 |
$722,323 $121,507 |
$1,215,610 |
13 |
$2,162,400 |
$760,418 $127,582 |
$1,274,400 |
14 |
$2,270,560 |
$800,438 $133,963 |
$1,336,159 |
15 |
$2,384,080 |
$842,440 $140,661 |
$1,400,979 |
16 |
$2,503,280 |
$886,544 $147,694 |
$1,469,042 |
17 |
$2,628,400 |
$932,838 $155,076 |
$1,540,486 |
18 |
$2,759,840 |
$981,471 $162,831 |
$1,615,538 |
19 |
$2,897,840 |
$1,032,531 $170,973 |
$1,694,336 |
20 |
$3,042,720 |
$1,086,137 $179,520 |
$1,777,063 |
21 |
$3,194,880 |
$1,142,436 $188,498 |
$1,863,946 |
22 |
$3,354,640 |
$1,201,547 $197,924 |
$1,955,169 |
23 |
$3,522,320 |
$1,263,589 $207,817 |
$2,050,914 |
24 |
$3,698,480 |
$1,328,768 $218,210 |
$2,151,502 |
25 |
$3,883,360 |
$1,397,174 $229,118 |
$2,257,068 |
26 |
$4,077,600 |
$1,469,042 $240,578 |
$2,367,980 |
27 |
$4,281,440 |
$1,544,463 $252,605 |
$2,484,372 |
28 |
$4,495,520 |
$1,623,673 $265,236 |
$2,606,611 |
29 |
$4,720,320 |
$1,706,849 $278,499 |
$2,734,972 |
30 |
$4,956,320 |
$1,794,169 $292,423 |
$2,869,728 |
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