New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 2, 2026 is estimated to be $346 Million, with a cash option of 153.8 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 Jun 2, 2026

Draw Date	Jackpot	Cash Option
Tue Jun 2, 2026	$346,000,000	$153,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$153,800,000
Federal Tax(24%)	$36,912,000
Additional Federal Tax	$19,954,330
State Tax(5.9%)	$9,074,200
Net Lumpsum Payment	$87,859,470

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,207,646	-$1,887,159 -$307,251	$3,013,236
2	$5,468,184	-$1,983,558 -$322,623	$3,162,003
3	$5,741,524	-$2,084,694 -$338,750	$3,318,080
4	$6,028,704	-$2,190,951 -$355,694	$3,482,059
5	$6,330,070	-$2,302,456 -$373,474	$3,654,140
6	$6,646,660	-$2,419,595 -$392,153	$3,834,912
7	$6,978,820	-$2,542,494 -$411,750	$4,024,576
8	$7,327,934	-$2,671,666 -$432,348	$4,223,920
9	$7,694,348	-$2,807,239 -$453,967	$4,433,142
10	$8,079,100	-$2,949,597 -$476,667	$4,652,836
11	$8,482,882	-$3,098,997 -$500,490	$4,883,395
12	$8,907,078	-$3,255,949 -$525,518	$5,125,611
13	$9,352,380	-$3,420,711 -$551,790	$5,379,879
14	$9,820,172	-$3,593,794 -$579,390	$5,646,988
15	$10,311,146	-$3,775,454 -$608,358	$5,927,334
16	$10,826,686	-$3,966,204 -$638,774	$6,221,708
17	$11,367,830	-$4,166,427 -$670,702	$6,530,701
18	$11,936,308	-$4,376,764 -$704,242	$6,855,302
19	$12,533,158	-$4,597,599 -$739,456	$7,196,103
20	$13,159,764	-$4,829,443 -$776,426	$7,553,895
21	$13,817,856	-$5,072,937 -$815,254	$7,929,665
22	$14,508,818	-$5,328,593 -$856,020	$8,324,205
23	$15,234,034	-$5,596,923 -$898,808	$8,738,303
24	$15,995,926	-$5,878,823 -$943,760	$9,173,343
25	$16,795,532	-$6,174,677 -$990,936	$9,629,919
26	$17,635,620	-$6,485,510 -$1,040,502	$10,109,608
27	$18,517,228	-$6,811,705 -$1,092,516	$10,613,007
28	$19,443,124	-$7,154,286 -$1,147,144	$11,141,694
29	$20,415,384	-$7,514,022 -$1,204,508	$11,696,854
30	$21,436,084	-$7,891,681 -$1,264,729	$12,279,674