New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Apr 26, 2025 is estimated to be $168 Million, with a cash option of 77.1 Million. If you win the Powerball 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

New Mexico Powerball Jackpot/Cash Option for Sat Apr 26, 2025

Draw Date	Jackpot	Cash Option
Sat Apr 26, 2025	$168,000,000	$77,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$77,100,000
Federal Tax(24%)	$18,504,000
Additional Federal Tax	$9,983,330
State Tax(5.9%)	$4,548,900
Net Lumpsum Payment	$44,063,770

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,528,568	-$895,901 -$149,186	$1,483,481
2	$2,655,072	-$942,707 -$156,649	$1,555,716
3	$2,787,792	-$991,813 -$164,480	$1,631,499
4	$2,927,232	-$1,043,406 -$172,707	$1,711,119
5	$3,073,560	-$1,097,548 -$181,340	$1,794,672
6	$3,227,280	-$1,154,424 -$190,410	$1,882,446
7	$3,388,560	-$1,214,098 -$199,925	$1,974,537
8	$3,558,072	-$1,276,817 -$209,926	$2,071,329
9	$3,735,984	-$1,342,644 -$220,423	$2,172,917
10	$3,922,800	-$1,411,766 -$231,445	$2,279,589
11	$4,118,856	-$1,484,307 -$243,013	$2,391,536
12	$4,324,824	-$1,560,515 -$255,165	$2,509,144
13	$4,541,040	-$1,640,515 -$267,921	$2,632,604
14	$4,768,176	-$1,724,556 -$281,322	$2,762,298
15	$5,006,568	-$1,812,761 -$295,388	$2,898,419
16	$5,256,888	-$1,905,379 -$310,156	$3,041,353
17	$5,519,640	-$2,002,597 -$325,659	$3,191,384
18	$5,795,664	-$2,104,726 -$341,944	$3,348,994
19	$6,085,464	-$2,211,952 -$359,042	$3,514,470
20	$6,389,712	-$2,324,524 -$376,993	$3,688,195
21	$6,709,248	-$2,442,752 -$395,846	$3,870,650
22	$7,044,744	-$2,566,886 -$415,640	$4,062,218
23	$7,396,872	-$2,697,173 -$436,415	$4,263,284
24	$7,766,808	-$2,834,049 -$458,242	$4,474,517
25	$8,155,056	-$2,977,701 -$481,148	$4,696,207
26	$8,562,960	-$3,128,626 -$505,215	$4,929,119
27	$8,991,024	-$3,287,009 -$530,470	$5,173,545
28	$9,440,592	-$3,453,349 -$556,995	$5,430,248
29	$9,912,672	-$3,628,019 -$584,848	$5,699,805
30	$10,408,272	-$3,811,391 -$614,088	$5,982,793