The jackpot for the MEGA Millions draw on Tue Oct 14, 2025, is projected to be $600 Million, with an option for a cash payout of $277.2 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 Tue Oct 14, 2025 |
|---|
| Draw Date | Tue Oct 14, 2025 | | Projected Jackpot | $600,000,000 | | Cash Value | $277,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $277,200,000 | | Federal Tax(24%) | $66,528,000 | | Additional Federal Tax | $35,996,330 | | State Tax(5.9%) | $16,354,800 | | Net Lumpsum Payment | $158,320,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,030,600 |
$3,301,652
$532,805 |
$5,196,143 |
| 2 |
$9,482,400 |
$3,468,818
$559,462 |
$5,454,120 |
| 3 |
$9,956,400 |
$3,644,198
$587,428 |
$5,724,774 |
| 4 |
$10,454,400 |
$3,828,458
$616,810 |
$6,009,132 |
| 5 |
$10,977,000 |
$4,021,820
$647,643 |
$6,307,537 |
| 6 |
$11,526,000 |
$4,224,950
$680,034 |
$6,621,016 |
| 7 |
$12,102,000 |
$4,438,070
$714,018 |
$6,949,912 |
| 8 |
$12,707,400 |
$4,662,068
$749,737 |
$7,295,595 |
| 9 |
$13,342,800 |
$4,897,166
$787,225 |
$7,658,409 |
| 10 |
$14,010,000 |
$5,144,030
$826,590 |
$8,039,380 |
| 11 |
$14,710,200 |
$5,403,104
$867,902 |
$8,439,194 |
| 12 |
$15,445,800 |
$5,675,276
$911,302 |
$8,859,222 |
| 13 |
$16,218,000 |
$5,960,990
$956,862 |
$9,300,148 |
| 14 |
$17,029,200 |
$6,261,134
$1,004,723 |
$9,763,343 |
| 15 |
$17,880,600 |
$6,576,152
$1,054,955 |
$10,249,493 |
| 16 |
$18,774,600 |
$6,906,932
$1,107,701 |
$10,759,967 |
| 17 |
$19,713,000 |
$7,254,140
$1,163,067 |
$11,295,793 |
| 18 |
$20,698,800 |
$7,618,886
$1,221,229 |
$11,858,685 |
| 19 |
$21,733,800 |
$8,001,836
$1,282,294 |
$12,449,670 |
| 20 |
$22,820,400 |
$8,403,878
$1,346,404 |
$13,070,118 |
| 21 |
$23,961,600 |
$8,826,122
$1,413,734 |
$13,721,744 |
| 22 |
$25,159,800 |
$9,269,456
$1,484,428 |
$14,405,916 |
| 23 |
$26,417,400 |
$9,734,768
$1,558,627 |
$15,124,005 |
| 24 |
$27,738,600 |
$10,223,612
$1,636,577 |
$15,878,411 |
| 25 |
$29,125,200 |
$10,736,654
$1,718,387 |
$16,670,159 |
| 26 |
$30,582,000 |
$11,275,670
$1,804,338 |
$17,501,992 |
| 27 |
$32,110,800 |
$11,841,326
$1,894,537 |
$18,374,937 |
| 28 |
$33,716,400 |
$12,435,398
$1,989,268 |
$19,291,734 |
| 29 |
$35,402,400 |
$13,059,218
$2,088,742 |
$20,254,440 |
| 30 |
$37,172,400 |
$13,714,118
$2,193,172 |
$21,265,110 |
|
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