New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Oct 6, 2026 is estimated to be $345 Million, with a cash option of 139.6 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 Oct 6, 2026

Draw Date	Jackpot	Cash Option
Tue Oct 6, 2026	$345,000,000	$139,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$139,600,000
Federal Tax(24%)	$33,504,000
Additional Federal Tax	$18,108,330
State Tax(5.9%)	$8,236,400
Net Lumpsum Payment	$79,751,270

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,192,595	-$1,881,591 -$306,363	$3,004,641
2	$5,452,380	-$1,977,711 -$321,690	$3,152,979
3	$5,724,930	-$2,078,554 -$337,771	$3,308,605
4	$6,011,280	-$2,184,504 -$354,666	$3,472,110
5	$6,311,775	-$2,295,687 -$372,395	$3,643,693
6	$6,627,450	-$2,412,487 -$391,020	$3,823,943
7	$6,958,650	-$2,535,031 -$410,560	$4,013,059
8	$7,306,755	-$2,663,830 -$431,099	$4,211,826
9	$7,672,110	-$2,799,011 -$452,654	$4,420,445
10	$8,055,750	-$2,940,958 -$475,289	$4,639,503
11	$8,458,365	-$3,089,925 -$499,044	$4,869,396
12	$8,881,335	-$3,246,424 -$523,999	$5,110,912
13	$9,325,350	-$3,410,710 -$550,196	$5,364,444
14	$9,791,790	-$3,583,293 -$577,716	$5,630,781
15	$10,281,345	-$3,764,428 -$606,599	$5,910,318
16	$10,795,395	-$3,954,627 -$636,928	$6,203,840
17	$11,334,975	-$4,154,271 -$668,764	$6,511,940
18	$11,901,810	-$4,364,000 -$702,207	$6,835,603
19	$12,496,935	-$4,584,196 -$737,319	$7,175,420
20	$13,121,730	-$4,815,370 -$774,182	$7,532,178
21	$13,777,920	-$5,058,161 -$812,897	$7,906,862
22	$14,466,885	-$5,313,078 -$853,546	$8,300,261
23	$15,190,005	-$5,580,632 -$896,210	$8,713,163
24	$15,949,695	-$5,861,718 -$941,032	$9,146,945
25	$16,746,990	-$6,156,717 -$988,072	$9,602,201
26	$17,584,650	-$6,466,651 -$1,037,494	$10,080,505
27	$18,463,710	-$6,791,903 -$1,089,359	$10,582,448
28	$19,386,930	-$7,133,494 -$1,143,829	$11,109,607
29	$20,356,380	-$7,492,191 -$1,201,026	$11,663,163
30	$21,374,130	-$7,868,758 -$1,261,074	$12,244,298