New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon May 19, 2025 is estimated to be $134 Million, with a cash option of 60.3 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 Mon May 19, 2025

Draw Date	Jackpot	Cash Option
Mon May 19, 2025	$134,000,000	$60,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$60,300,000
Federal Tax(24%)	$14,472,000
Additional Federal Tax	$7,799,330
State Tax(5.9%)	$3,557,700
Net Lumpsum Payment	$34,470,970

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,016,834	-$706,559 -$118,993	$1,191,282
2	$2,117,736	-$743,893 -$124,946	$1,248,897
3	$2,223,596	-$783,061 -$131,192	$1,309,343
4	$2,334,816	-$824,212 -$137,754	$1,372,850
5	$2,451,530	-$867,396 -$144,640	$1,439,494
6	$2,574,140	-$912,762 -$151,874	$1,509,504
7	$2,702,780	-$960,359 -$159,464	$1,582,957
8	$2,837,986	-$1,010,385 -$167,441	$1,660,160
9	$2,979,892	-$1,062,890 -$175,814	$1,741,188
10	$3,128,900	-$1,118,023 -$184,605	$1,826,272
11	$3,285,278	-$1,175,883 -$193,831	$1,915,564
12	$3,449,562	-$1,236,668 -$203,524	$2,009,370
13	$3,622,020	-$1,300,478 -$213,699	$2,107,843
14	$3,803,188	-$1,367,510 -$224,388	$2,211,290
15	$3,993,334	-$1,437,864 -$235,607	$2,319,863
16	$4,192,994	-$1,511,738 -$247,387	$2,433,869
17	$4,402,570	-$1,589,281 -$259,752	$2,553,537
18	$4,622,732	-$1,670,741 -$272,741	$2,679,250
19	$4,853,882	-$1,756,267 -$286,379	$2,811,236
20	$5,096,556	-$1,846,056 -$300,697	$2,949,803
21	$5,351,424	-$1,940,357 -$315,734	$3,095,333
22	$5,619,022	-$2,039,369 -$331,522	$3,248,131
23	$5,899,886	-$2,143,288 -$348,093	$3,408,505
24	$6,194,954	-$2,252,463 -$365,502	$3,576,989
25	$6,504,628	-$2,367,043 -$383,773	$3,753,812
26	$6,829,980	-$2,487,423 -$402,969	$3,939,588
27	$7,171,412	-$2,613,753 -$423,113	$4,134,546
28	$7,529,996	-$2,746,429 -$444,270	$4,339,297
29	$7,906,536	-$2,885,749 -$466,486	$4,554,301
30	$8,301,836	-$3,032,010 -$489,808	$4,780,018