New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of New Mexico, your state will take 5.9% of your lottery winnings.

Please note that the calculation of the MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Mexico MEGA Millions Jackpot/Cash Option for Tue Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(5.9%)	$1,876,200
Net Lumpsum Payment	$18,197,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$62,161	$641,258
2	$1,106,280	-$369,654 -$65,271	$671,355
3	$1,161,580	-$390,115 -$68,533	$702,932
4	$1,219,680	-$411,612 -$71,961	$736,107
5	$1,280,650	-$434,171 -$75,558	$770,921
6	$1,344,700	-$457,869 -$79,337	$807,494
7	$1,411,900	-$482,733 -$83,302	$845,865
8	$1,482,530	-$508,866 -$87,469	$886,195
9	$1,556,660	-$536,295 -$91,843	$928,522
10	$1,634,500	-$565,095 -$96,436	$972,969
11	$1,716,190	-$595,321 -$101,255	$1,019,614
12	$1,802,010	-$627,074 -$106,319	$1,068,617
13	$1,892,100	-$660,407 -$111,634	$1,120,059
14	$1,986,740	-$695,424 -$117,218	$1,174,098
15	$2,086,070	-$732,176 -$123,078	$1,230,816
16	$2,190,370	-$770,767 -$129,232	$1,290,371
17	$2,299,850	-$811,275 -$135,691	$1,352,884
18	$2,414,860	-$853,829 -$142,477	$1,418,554
19	$2,535,610	-$898,506 -$149,601	$1,487,503
20	$2,662,380	-$945,411 -$157,080	$1,559,889
21	$2,795,520	-$994,673 -$164,936	$1,635,911
22	$2,935,310	-$1,046,395 -$173,183	$1,715,732
23	$3,082,030	-$1,100,681 -$181,840	$1,799,509
24	$3,236,170	-$1,157,713 -$190,934	$1,887,523
25	$3,397,940	-$1,217,568 -$200,478	$1,979,894
26	$3,567,900	-$1,280,453 -$210,506	$2,076,941
27	$3,746,260	-$1,346,447 -$221,029	$2,178,784
28	$3,933,580	-$1,415,755 -$232,081	$2,285,744
29	$4,130,280	-$1,488,534 -$243,687	$2,398,059
30	$4,336,780	-$1,564,939 -$255,870	$2,515,971