New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(5.9%)	$14,319,300
Net Lumpsum Payment	$138,621,370

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$457,325	$4,465,642
2	$8,139,060	-$2,971,783 -$480,205	$4,687,072
3	$8,545,910	-$3,122,317 -$504,209	$4,919,384
4	$8,973,360	-$3,280,474 -$529,428	$5,163,458
5	$9,421,925	-$3,446,443 -$555,894	$5,419,588
6	$9,893,150	-$3,620,796 -$583,696	$5,688,658
7	$10,387,550	-$3,803,724 -$612,865	$5,970,961
8	$10,907,185	-$3,995,989 -$643,524	$6,267,672
9	$11,452,570	-$4,197,781 -$675,702	$6,579,087
10	$12,025,250	-$4,409,673 -$709,490	$6,906,087
11	$12,626,255	-$4,632,045 -$744,949	$7,249,261
12	$13,257,645	-$4,865,659 -$782,201	$7,609,785
13	$13,920,450	-$5,110,897 -$821,307	$7,988,246
14	$14,616,730	-$5,368,520 -$862,387	$8,385,823
15	$15,347,515	-$5,638,911 -$905,503	$8,803,101
16	$16,114,865	-$5,922,830 -$950,777	$9,241,258
17	$16,920,325	-$6,220,851 -$998,299	$9,701,175
18	$17,766,470	-$6,533,924 -$1,048,222	$10,184,324
19	$18,654,845	-$6,862,623 -$1,100,636	$10,691,586
20	$19,587,510	-$7,207,709 -$1,155,663	$11,224,138
21	$20,567,040	-$7,570,135 -$1,213,455	$11,783,450
22	$21,595,495	-$7,950,664 -$1,274,134	$12,370,697
23	$22,674,935	-$8,350,056 -$1,337,821	$12,987,058
24	$23,808,965	-$8,769,647 -$1,404,729	$13,634,589
25	$24,999,130	-$9,210,008 -$1,474,949	$14,314,173
26	$26,249,550	-$9,672,664 -$1,548,723	$15,028,163
27	$27,561,770	-$10,158,185 -$1,626,144	$15,777,441
28	$28,939,910	-$10,668,097 -$1,707,455	$16,564,358
29	$30,387,060	-$11,203,543 -$1,792,837	$17,390,680
30	$31,906,310	-$11,765,665 -$1,882,472	$18,258,173