New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 1, 2025 is estimated to be $29 Million, with a cash option of 13.3 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 Apr 1, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 1, 2025	$29,000,000	$13,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$13,300,000
Federal Tax(24%)	$3,192,000
Additional Federal Tax	$1,689,330
State Tax(5.9%)	$784,700
Net Lumpsum Payment	$7,633,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$436,479	-$121,828 -$25,752	$288,899
2	$458,316	-$129,907 -$27,041	$301,368
3	$481,226	-$138,384 -$28,392	$314,450
4	$505,296	-$147,290 -$29,812	$328,194
5	$530,555	-$156,636 -$31,303	$342,616
6	$557,090	-$166,454 -$32,868	$357,768
7	$584,930	-$176,754 -$34,511	$373,665
8	$614,191	-$187,581 -$36,237	$390,373
9	$644,902	-$198,944 -$38,049	$407,909
10	$677,150	-$210,876 -$39,952	$426,322
11	$710,993	-$223,398 -$41,949	$445,646
12	$746,547	-$236,553 -$44,046	$465,948
13	$783,870	-$250,362 -$46,248	$487,260
14	$823,078	-$264,869 -$48,562	$509,647
15	$864,229	-$280,095 -$50,990	$533,144
16	$907,439	-$296,083 -$53,539	$557,817
17	$952,795	-$312,865 -$56,215	$583,715
18	$1,000,442	-$330,494 -$59,026	$610,922
19	$1,050,467	-$349,003 -$61,978	$639,486
20	$1,102,986	-$368,435 -$65,076	$669,475
21	$1,158,144	-$388,844 -$68,330	$700,970
22	$1,216,057	-$410,271 -$71,747	$734,039
23	$1,276,841	-$432,762 -$75,334	$768,745
24	$1,340,699	-$456,389 -$79,101	$805,209
25	$1,407,718	-$481,186 -$83,055	$843,477
26	$1,478,130	-$507,238 -$87,210	$883,682
27	$1,552,022	-$534,579 -$91,569	$925,874
28	$1,629,626	-$563,292 -$96,148	$970,186
29	$1,711,116	-$593,443 -$100,956	$1,016,717
30	$1,796,666	-$625,097 -$106,003	$1,065,566