New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jul 22, 2025 is estimated to be $110 Million, with a cash option of 48.4 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 Jul 22, 2025

Draw Date	Jackpot	Cash Option
Tue Jul 22, 2025	$110,000,000	$48,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$48,400,000
Federal Tax(24%)	$11,616,000
Additional Federal Tax	$6,252,330
State Tax(5.9%)	$2,855,600
Net Lumpsum Payment	$27,676,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,655,610	-$572,906 -$97,681	$985,023
2	$1,738,440	-$603,553 -$102,568	$1,032,319
3	$1,825,340	-$635,706 -$107,695	$1,081,939
4	$1,916,640	-$669,487 -$113,082	$1,134,071
5	$2,012,450	-$704,937 -$118,735	$1,188,778
6	$2,113,100	-$742,177 -$124,673	$1,246,250
7	$2,218,700	-$781,249 -$130,903	$1,306,548
8	$2,329,690	-$822,316 -$137,452	$1,369,922
9	$2,446,180	-$865,417 -$144,325	$1,436,438
10	$2,568,500	-$910,675 -$151,542	$1,506,283
11	$2,696,870	-$958,172 -$159,115	$1,579,583
12	$2,831,730	-$1,008,070 -$167,072	$1,656,588
13	$2,973,300	-$1,060,451 -$175,425	$1,737,424
14	$3,122,020	-$1,115,478 -$184,199	$1,822,343
15	$3,278,110	-$1,173,231 -$193,408	$1,911,471
16	$3,442,010	-$1,233,874 -$203,079	$2,005,057
17	$3,614,050	-$1,297,529 -$213,229	$2,103,292
18	$3,794,780	-$1,364,399 -$223,892	$2,206,489
19	$3,984,530	-$1,434,606 -$235,087	$2,314,837
20	$4,183,740	-$1,508,314 -$246,841	$2,428,585
21	$4,392,960	-$1,585,726 -$259,185	$2,548,049
22	$4,612,630	-$1,667,003 -$272,145	$2,673,482
23	$4,843,190	-$1,752,311 -$285,748	$2,805,131
24	$5,085,410	-$1,841,932 -$300,039	$2,943,439
25	$5,339,620	-$1,935,990 -$315,038	$3,088,592
26	$5,606,700	-$2,034,809 -$330,795	$3,241,096
27	$5,886,980	-$2,138,513 -$347,332	$3,401,135
28	$6,181,340	-$2,247,426 -$364,699	$3,569,215
29	$6,490,440	-$2,361,793 -$382,936	$3,745,711
30	$6,814,940	-$2,481,858 -$402,081	$3,931,001