New Mexico Lottery

NMLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 Aug 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(5.9%)	$3,274,500
Net Lumpsum Payment	$31,730,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$115,441	$1,156,906
2	$2,054,520	-$720,503 -$121,217	$1,212,800
3	$2,157,220	-$758,502 -$127,276	$1,271,442
4	$2,265,120	-$798,425 -$133,642	$1,333,053
5	$2,378,350	-$840,320 -$140,323	$1,397,707
6	$2,497,300	-$884,331 -$147,341	$1,465,628
7	$2,622,100	-$930,507 -$154,704	$1,536,889
8	$2,753,270	-$979,040 -$162,443	$1,611,787
9	$2,890,940	-$1,029,978 -$170,565	$1,690,397
10	$3,035,500	-$1,083,465 -$179,095	$1,772,940
11	$3,187,210	-$1,139,598 -$188,045	$1,859,567
12	$3,346,590	-$1,198,569 -$197,449	$1,950,572
13	$3,513,900	-$1,260,473 -$207,320	$2,046,107
14	$3,689,660	-$1,325,505 -$217,690	$2,146,465
15	$3,874,130	-$1,393,758 -$228,574	$2,251,798
16	$4,067,830	-$1,465,427 -$240,002	$2,362,401
17	$4,271,150	-$1,540,656 -$251,998	$2,478,496
18	$4,484,740	-$1,619,684 -$264,600	$2,600,456
19	$4,708,990	-$1,702,657 -$277,830	$2,728,503
20	$4,944,420	-$1,789,766 -$291,721	$2,862,933
21	$5,191,680	-$1,881,252 -$306,309	$3,004,119
22	$5,451,290	-$1,977,308 -$321,626	$3,152,356
23	$5,723,770	-$2,078,125 -$337,702	$3,307,943
24	$6,010,030	-$2,184,041 -$354,592	$3,471,397
25	$6,310,460	-$2,295,201 -$372,317	$3,642,942
26	$6,626,100	-$2,411,987 -$390,940	$3,823,173
27	$6,957,340	-$2,534,546 -$410,483	$4,012,311
28	$7,305,220	-$2,663,262 -$431,008	$4,210,950
29	$7,670,520	-$2,798,423 -$452,561	$4,419,536
30	$8,054,020	-$2,940,318 -$475,187	$4,638,515