New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Sep 9, 2025 is estimated to be $358 Million, with a cash option of 164.5 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 Sep 9, 2025

Draw Date	Jackpot	Cash Option
Tue Sep 9, 2025	$358,000,000	$164,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$164,500,000
Federal Tax(24%)	$39,480,000
Additional Federal Tax	$21,345,330
State Tax(5.9%)	$9,705,500
Net Lumpsum Payment	$93,969,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,388,258	-$1,953,986 -$317,907	$3,116,365
2	$5,657,832	-$2,053,728 -$333,812	$3,270,292
3	$5,940,652	-$2,158,372 -$350,498	$3,431,782
4	$6,237,792	-$2,268,313 -$368,030	$3,601,449
5	$6,549,610	-$2,383,686 -$386,427	$3,779,497
6	$6,877,180	-$2,504,887 -$405,754	$3,966,539
7	$7,220,860	-$2,632,049 -$426,031	$4,162,780
8	$7,582,082	-$2,765,701 -$447,343	$4,369,038
9	$7,961,204	-$2,905,976 -$469,711	$4,585,517
10	$8,359,300	-$3,053,271 -$493,199	$4,812,830
11	$8,777,086	-$3,207,852 -$517,848	$5,051,386
12	$9,215,994	-$3,370,248 -$543,744	$5,302,002
13	$9,676,740	-$3,540,724 -$570,928	$5,565,088
14	$10,160,756	-$3,719,810 -$599,485	$5,841,461
15	$10,668,758	-$3,907,771 -$629,457	$6,131,530
16	$11,202,178	-$4,105,136 -$660,929	$6,436,113
17	$11,762,090	-$4,312,304 -$693,963	$6,755,823
18	$12,350,284	-$4,529,935 -$728,667	$7,091,682
19	$12,967,834	-$4,758,429 -$765,102	$7,444,303
20	$13,616,172	-$4,998,314 -$803,354	$7,814,504
21	$14,297,088	-$5,250,253 -$843,528	$8,203,307
22	$15,012,014	-$5,514,776 -$885,709	$8,611,529
23	$15,762,382	-$5,792,412 -$929,981	$9,039,989
24	$16,550,698	-$6,084,089 -$976,491	$9,490,118
25	$17,378,036	-$6,390,204 -$1,025,304	$9,962,528
26	$18,247,260	-$6,711,817 -$1,076,588	$10,458,855
27	$19,159,444	-$7,049,325 -$1,130,407	$10,979,712
28	$20,117,452	-$7,403,788 -$1,186,930	$11,526,734
29	$21,123,432	-$7,776,000 -$1,246,282	$12,101,150
30	$22,179,532	-$8,166,757 -$1,308,592	$12,704,183