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 Date | Tue 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 |
|
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