New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 Aug 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(5.9%)	$1,504,500
Net Lumpsum Payment	$14,600,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$53,281	$555,316
2	$948,240	-$311,179 -$55,946	$581,115
3	$995,640	-$328,717 -$58,743	$608,180
4	$1,045,440	-$347,143 -$61,681	$636,616
5	$1,097,700	-$366,479 -$64,764	$666,457
6	$1,152,600	-$386,792 -$68,003	$697,805
7	$1,210,200	-$408,104 -$71,402	$730,694
8	$1,270,740	-$430,504 -$74,974	$765,262
9	$1,334,280	-$454,014 -$78,723	$801,543
10	$1,401,000	-$478,700 -$82,659	$839,641
11	$1,471,020	-$504,608 -$86,790	$879,622
12	$1,544,580	-$531,825 -$91,130	$921,625
13	$1,621,800	-$560,396 -$95,686	$965,718
14	$1,702,920	-$590,411 -$100,472	$1,012,037
15	$1,788,060	-$621,913 -$105,496	$1,060,651
16	$1,877,460	-$654,991 -$110,770	$1,111,699
17	$1,971,300	-$689,711 -$116,307	$1,165,282
18	$2,069,880	-$726,186 -$122,123	$1,221,571
19	$2,173,380	-$764,481 -$128,229	$1,280,670
20	$2,282,040	-$804,685 -$134,640	$1,342,715
21	$2,396,160	-$846,910 -$141,373	$1,407,877
22	$2,515,980	-$891,243 -$148,443	$1,476,294
23	$2,641,740	-$937,774 -$155,863	$1,548,103
24	$2,773,860	-$986,659 -$163,658	$1,623,543
25	$2,912,520	-$1,037,963 -$171,839	$1,702,718
26	$3,058,200	-$1,091,864 -$180,434	$1,785,902
27	$3,211,080	-$1,148,430 -$189,454	$1,873,196
28	$3,371,640	-$1,207,837 -$198,927	$1,964,876
29	$3,540,240	-$1,270,219 -$208,874	$2,061,147
30	$3,717,240	-$1,335,709 -$219,317	$2,162,214