The jackpot for the MEGA Millions draw on Fri May 9, 2025, is projected to be $100 Million, with an option for a cash payout of $45.3 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 May 9, 2025 |
|---|
| Draw Date | Fri May 9, 2025 | | Projected Jackpot | $100,000,000 | | Cash Value | $45,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $45,300,000 | | Federal Tax(24%) | $10,872,000 | | Additional Federal Tax | $5,849,330 | | State Tax(5.9%) | $2,672,700 | | Net Lumpsum Payment | $25,905,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,505,100 |
$517,217
$88,801 |
$899,082 |
| 2 |
$1,580,400 |
$545,078
$93,244 |
$942,078 |
| 3 |
$1,659,400 |
$574,308
$97,905 |
$987,187 |
| 4 |
$1,742,400 |
$605,018
$102,802 |
$1,034,580 |
| 5 |
$1,829,500 |
$637,245
$107,941 |
$1,084,314 |
| 6 |
$1,921,000 |
$671,100
$113,339 |
$1,136,561 |
| 7 |
$2,017,000 |
$706,620
$119,003 |
$1,191,377 |
| 8 |
$2,117,900 |
$743,953
$124,956 |
$1,248,991 |
| 9 |
$2,223,800 |
$783,136
$131,204 |
$1,309,460 |
| 10 |
$2,335,000 |
$824,280
$137,765 |
$1,372,955 |
| 11 |
$2,451,700 |
$867,459
$144,650 |
$1,439,591 |
| 12 |
$2,574,300 |
$912,821
$151,884 |
$1,509,595 |
| 13 |
$2,703,000 |
$960,440
$159,477 |
$1,583,083 |
| 14 |
$2,838,200 |
$1,010,464
$167,454 |
$1,660,282 |
| 15 |
$2,980,100 |
$1,062,967
$175,826 |
$1,741,307 |
| 16 |
$3,129,100 |
$1,118,097
$184,617 |
$1,826,386 |
| 17 |
$3,285,500 |
$1,175,965
$193,845 |
$1,915,690 |
| 18 |
$3,449,800 |
$1,236,756
$203,538 |
$2,009,506 |
| 19 |
$3,622,300 |
$1,300,581
$213,716 |
$2,108,003 |
| 20 |
$3,803,400 |
$1,367,588
$224,401 |
$2,211,411 |
| 21 |
$3,993,600 |
$1,437,962
$235,622 |
$2,320,016 |
| 22 |
$4,193,300 |
$1,511,851
$247,405 |
$2,434,044 |
| 23 |
$4,402,900 |
$1,589,403
$259,771 |
$2,553,726 |
| 24 |
$4,623,100 |
$1,670,877
$272,763 |
$2,679,460 |
| 25 |
$4,854,200 |
$1,756,384
$286,398 |
$2,811,418 |
| 26 |
$5,097,000 |
$1,846,220
$300,723 |
$2,950,057 |
| 27 |
$5,351,800 |
$1,940,496
$315,756 |
$3,095,548 |
| 28 |
$5,619,400 |
$2,039,508
$331,545 |
$3,248,347 |
| 29 |
$5,900,400 |
$2,143,478
$348,124 |
$3,408,798 |
| 30 |
$6,195,400 |
$2,252,628
$365,529 |
$3,577,243 |
|
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