New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Oct 31, 2025 is estimated to be $754 Million, with a cash option of 352.8 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 Fri Oct 31, 2025

Draw Date	Jackpot	Cash Option
Fri Oct 31, 2025	$754,000,000	$352,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$352,800,000
Federal Tax(24%)	$84,672,000
Additional Federal Tax	$45,824,330
State Tax(5.9%)	$20,815,200
Net Lumpsum Payment	$201,488,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,348,454	-$4,159,258 -$669,559	$6,519,637
2	$11,916,216	-$4,369,330 -$703,057	$6,843,829
3	$12,511,876	-$4,589,725 -$738,201	$7,183,950
4	$13,137,696	-$4,821,278 -$775,124	$7,541,294
5	$13,794,430	-$5,064,269 -$813,871	$7,916,290
6	$14,484,340	-$5,319,536 -$854,576	$8,310,228
7	$15,208,180	-$5,587,357 -$897,283	$8,723,540
8	$15,968,966	-$5,868,848 -$942,169	$9,157,949
9	$16,767,452	-$6,164,288 -$989,280	$9,613,884
10	$17,605,900	-$6,474,513 -$1,038,748	$10,092,639
11	$18,485,818	-$6,800,083 -$1,090,663	$10,595,072
12	$19,410,222	-$7,142,113 -$1,145,203	$11,122,906
13	$20,380,620	-$7,501,160 -$1,202,457	$11,677,003
14	$21,400,028	-$7,878,341 -$1,262,602	$12,259,085
15	$22,469,954	-$8,274,213 -$1,325,727	$12,870,014
16	$23,593,414	-$8,689,894 -$1,392,011	$13,511,509
17	$24,772,670	-$9,126,218 -$1,461,588	$14,184,864
18	$26,011,492	-$9,584,582 -$1,534,678	$14,892,232
19	$27,312,142	-$10,065,823 -$1,611,416	$15,634,903
20	$28,677,636	-$10,571,056 -$1,691,981	$16,414,599
21	$30,111,744	-$11,101,676 -$1,776,593	$17,233,475
22	$31,617,482	-$11,658,799 -$1,865,431	$18,093,252
23	$33,197,866	-$12,243,541 -$1,958,674	$18,995,651
24	$34,858,174	-$12,857,855 -$2,056,632	$19,943,687
25	$36,600,668	-$13,502,578 -$2,159,439	$20,938,651
26	$38,431,380	-$14,179,941 -$2,267,451	$21,983,988
27	$40,352,572	-$14,890,782 -$2,380,802	$23,080,988
28	$42,370,276	-$15,637,333 -$2,499,846	$24,233,097
29	$44,489,016	-$16,421,266 -$2,624,852	$25,442,898
30	$46,713,316	-$17,244,257 -$2,756,086	$26,712,973