New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 27, 2025 is estimated to be $348 Million, with a cash option of 155.5 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 Fri Jun 27, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 27, 2025	$348,000,000	$155,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$155,500,000
Federal Tax(24%)	$37,320,000
Additional Federal Tax	$20,175,330
State Tax(5.9%)	$9,174,500
Net Lumpsum Payment	$88,830,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,237,748	-$1,898,297 -$309,027	$3,030,424
2	$5,499,792	-$1,995,253 -$324,488	$3,180,051
3	$5,774,712	-$2,096,974 -$340,708	$3,337,030
4	$6,063,552	-$2,203,845 -$357,750	$3,501,957
5	$6,366,660	-$2,315,995 -$375,633	$3,675,032
6	$6,685,080	-$2,433,810 -$394,420	$3,856,850
7	$7,019,160	-$2,557,420 -$414,130	$4,047,610
8	$7,370,292	-$2,687,338 -$434,847	$4,248,107
9	$7,738,824	-$2,823,695 -$456,591	$4,458,538
10	$8,125,800	-$2,966,876 -$479,422	$4,679,502
11	$8,531,916	-$3,117,139 -$503,383	$4,911,394
12	$8,958,564	-$3,274,999 -$528,555	$5,155,010
13	$9,406,440	-$3,440,713 -$554,980	$5,410,747
14	$9,876,936	-$3,614,797 -$582,739	$5,679,400
15	$10,370,748	-$3,797,507 -$611,874	$5,961,367
16	$10,889,268	-$3,989,360 -$642,467	$6,257,441
17	$11,433,540	-$4,190,740 -$674,579	$6,568,221
18	$12,005,304	-$4,402,293 -$708,313	$6,894,698
19	$12,605,604	-$4,624,404 -$743,731	$7,237,469
20	$13,235,832	-$4,857,588 -$780,914	$7,597,330
21	$13,897,728	-$5,102,490 -$819,966	$7,975,272
22	$14,592,684	-$5,359,623 -$860,968	$8,372,093
23	$15,322,092	-$5,629,504 -$904,003	$8,788,585
24	$16,088,388	-$5,913,034 -$949,215	$9,226,139
25	$16,892,616	-$6,210,598 -$996,664	$9,685,354
26	$17,737,560	-$6,523,228 -$1,046,516	$10,167,816
27	$18,624,264	-$6,851,308 -$1,098,832	$10,674,124
28	$19,555,512	-$7,195,870 -$1,153,775	$11,205,867
29	$20,533,392	-$7,557,685 -$1,211,470	$11,764,237
30	$21,559,992	-$7,937,527 -$1,272,040	$12,350,425