Jackpot Analysis New Mexico Mega Millions

Jackpot Analysis for New Mexico Mega Millions
The jackpot for the MEGA Millions draw on Tue Oct 21, 2025, is projected to be $650 Million, with an option for a cash payout of $304.1 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 21, 2025
Draw DateTue Oct 21, 2025
Projected Jackpot$650,000,000
Cash Value$304,100,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$304,100,000
Federal Tax(24%)$72,984,000
Additional Federal Tax$39,493,330
State Tax(5.9%)$17,941,900
Net Lumpsum Payment$173,680,770
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $9,783,150 $3,580,096
$577,206
$5,625,848
2 $10,272,600 $3,761,192
$606,083
$5,905,325
3 $10,786,100 $3,951,187
$636,380
$6,198,533
4 $11,325,600 $4,150,802
$668,210
$6,506,588
5 $11,891,750 $4,360,278
$701,613
$6,829,859
6 $12,486,500 $4,580,335
$736,704
$7,169,461
7 $13,110,500 $4,811,215
$773,520
$7,525,765
8 $13,766,350 $5,053,880
$812,215
$7,900,255
9 $14,454,700 $5,308,569
$852,827
$8,293,304
10 $15,177,500 $5,576,005
$895,473
$8,706,022
11 $15,936,050 $5,856,669
$940,227
$9,139,154
12 $16,732,950 $6,151,522
$987,244
$9,594,184
13 $17,569,500 $6,461,045
$1,036,601
$10,071,854
14 $18,448,300 $6,786,201
$1,088,450
$10,573,649
15 $19,370,650 $7,127,471
$1,142,868
$11,100,311
16 $20,339,150 $7,485,816
$1,200,010
$11,653,324
17 $21,355,750 $7,861,958
$1,259,989
$12,233,803
18 $22,423,700 $8,257,099
$1,322,998
$12,843,603
19 $23,544,950 $8,671,962
$1,389,152
$13,483,836
20 $24,722,100 $9,107,507
$1,458,604
$14,155,989
21 $25,958,400 $9,564,938
$1,531,546
$14,861,916
22 $27,256,450 $10,045,217
$1,608,131
$15,603,102
23 $28,618,850 $10,549,305
$1,688,512
$16,381,033
24 $30,050,150 $11,078,886
$1,772,959
$17,198,305
25 $31,552,300 $11,634,681
$1,861,586
$18,056,033
26 $33,130,500 $12,218,615
$1,954,700
$18,957,185
27 $34,786,700 $12,831,409
$2,052,415
$19,902,876
28 $36,526,100 $13,474,987
$2,155,040
$20,896,073
29 $38,352,600 $14,150,792
$2,262,803
$21,939,005
30 $40,270,100 $14,860,267
$2,375,936
$23,033,897