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 |
|---|
| Draw Date | Fri Jul 11, 2025 | | Projected Jackpot | $80,000,000 | | Cash Value | $35,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| 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 |
|---|
| 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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