New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Feb 25, 2025 is estimated to be $181 Million, with a cash option of 82.7 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 Feb 25, 2025

Draw Date	Jackpot	Cash Option
Tue Feb 25, 2025	$181,000,000	$82,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$82,700,000
Federal Tax(24%)	$19,848,000
Additional Federal Tax	$10,711,330
State Tax(5.9%)	$4,879,300
Net Lumpsum Payment	$47,261,370

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,724,231	-$968,296 -$160,730	$1,595,205
2	$2,860,524	-$1,018,724 -$168,771	$1,673,029
3	$3,003,514	-$1,071,631 -$177,207	$1,754,676
4	$3,153,744	-$1,127,216 -$186,071	$1,840,457
5	$3,311,395	-$1,185,547 -$195,372	$1,930,476
6	$3,477,010	-$1,246,824 -$205,144	$2,025,042
7	$3,650,770	-$1,311,115 -$215,395	$2,124,260
8	$3,833,399	-$1,378,688 -$226,171	$2,228,540
9	$4,025,078	-$1,449,609 -$237,480	$2,337,989
10	$4,226,350	-$1,524,080 -$249,355	$2,452,915
11	$4,437,577	-$1,602,234 -$261,817	$2,573,526
12	$4,659,483	-$1,684,339 -$274,909	$2,700,235
13	$4,892,430	-$1,770,529 -$288,653	$2,833,248
14	$5,137,142	-$1,861,073 -$303,091	$2,972,978
15	$5,393,981	-$1,956,103 -$318,245	$3,119,633
16	$5,663,671	-$2,055,889 -$334,157	$3,273,625
17	$5,946,755	-$2,160,630 -$350,859	$3,435,266
18	$6,244,138	-$2,270,661 -$368,404	$3,605,073
19	$6,556,363	-$2,386,185 -$386,825	$3,783,353
20	$6,884,154	-$2,507,467 -$406,165	$3,970,522
21	$7,228,416	-$2,634,844 -$426,477	$4,167,095
22	$7,589,873	-$2,768,583 -$447,803	$4,373,487
23	$7,969,249	-$2,908,953 -$470,186	$4,590,110
24	$8,367,811	-$3,056,420 -$493,701	$4,817,690
25	$8,786,102	-$3,211,188 -$518,380	$5,056,534
26	$9,225,570	-$3,373,791 -$544,309	$5,307,470
27	$9,686,758	-$3,544,431 -$571,519	$5,570,808
28	$10,171,114	-$3,723,643 -$600,096	$5,847,375
29	$10,679,724	-$3,911,828 -$630,104	$6,137,792
30	$11,213,674	-$4,109,390 -$661,607	$6,442,677