New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 20, 2025 is estimated to be $139 Million, with a cash option of 62.3 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 May 20, 2025

Draw Date	Jackpot	Cash Option
Tue May 20, 2025	$139,000,000	$62,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$62,300,000
Federal Tax(24%)	$14,952,000
Additional Federal Tax	$8,059,330
State Tax(5.9%)	$3,675,700
Net Lumpsum Payment	$35,612,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,092,089	-$734,403 -$123,433	$1,234,253
2	$2,196,756	-$773,130 -$129,609	$1,294,017
3	$2,306,566	-$813,760 -$136,087	$1,356,719
4	$2,421,936	-$856,447 -$142,894	$1,422,595
5	$2,543,005	-$901,242 -$150,037	$1,491,726
6	$2,670,190	-$948,301 -$157,541	$1,564,348
7	$2,803,630	-$997,673 -$165,414	$1,640,543
8	$2,943,881	-$1,049,566 -$173,689	$1,720,626
9	$3,091,082	-$1,104,031 -$182,374	$1,804,677
10	$3,245,650	-$1,161,221 -$191,493	$1,892,936
11	$3,407,863	-$1,221,240 -$201,064	$1,985,559
12	$3,578,277	-$1,284,293 -$211,118	$2,082,866
13	$3,757,170	-$1,350,483 -$221,673	$2,185,014
14	$3,945,098	-$1,420,017 -$232,761	$2,292,320
15	$4,142,339	-$1,492,996 -$244,398	$2,404,945
16	$4,349,449	-$1,569,627 -$256,617	$2,523,205
17	$4,566,845	-$1,650,063 -$269,444	$2,647,338
18	$4,795,222	-$1,734,563 -$282,918	$2,777,741
19	$5,034,997	-$1,823,279 -$297,065	$2,914,653
20	$5,286,726	-$1,916,419 -$311,917	$3,058,390
21	$5,551,104	-$2,014,239 -$327,515	$3,209,350
22	$5,828,687	-$2,116,945 -$343,893	$3,367,849
23	$6,120,031	-$2,224,742 -$361,082	$3,534,207
24	$6,426,109	-$2,337,991 -$379,140	$3,708,978
25	$6,747,338	-$2,456,845 -$398,093	$3,892,400
26	$7,084,830	-$2,581,717 -$418,005	$4,085,108
27	$7,439,002	-$2,712,761 -$438,901	$4,287,340
28	$7,810,966	-$2,850,388 -$460,847	$4,499,731
29	$8,201,556	-$2,994,906 -$483,892	$4,722,758
30	$8,611,606	-$3,146,625 -$508,085	$4,956,896