New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Aug 2, 2025 is estimated to be $410 Million, with a cash option of 184.9 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 Aug 2, 2025

Draw Date	Jackpot	Cash Option
Sat Aug 2, 2025	$410,000,000	$184,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$184,900,000
Federal Tax(24%)	$44,376,000
Additional Federal Tax	$23,997,330
State Tax(5.9%)	$10,909,100
Net Lumpsum Payment	$105,617,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$6,170,910	-$2,243,567 -$364,084	$3,563,259
2	$6,479,640	-$2,357,797 -$382,299	$3,739,544
3	$6,803,540	-$2,477,640 -$401,409	$3,924,491
4	$7,143,840	-$2,603,551 -$421,487	$4,118,802
5	$7,500,950	-$2,735,682 -$442,556	$4,322,712
6	$7,876,100	-$2,874,487 -$464,690	$4,536,923
7	$8,269,700	-$3,020,119 -$487,912	$4,761,669
8	$8,683,390	-$3,173,185 -$512,320	$4,997,885
9	$9,117,580	-$3,333,835 -$537,937	$5,245,808
10	$9,573,500	-$3,502,525 -$564,837	$5,506,138
11	$10,051,970	-$3,679,559 -$593,066	$5,779,345
12	$10,554,630	-$3,865,543 -$622,723	$6,066,364
13	$11,082,300	-$4,060,781 -$653,856	$6,367,663
14	$11,636,620	-$4,265,880 -$686,561	$6,684,179
15	$12,218,410	-$4,481,142 -$720,886	$7,016,382
16	$12,829,310	-$4,707,175 -$756,929	$7,365,206
17	$13,470,550	-$4,944,434 -$794,762	$7,731,354
18	$14,144,180	-$5,193,677 -$834,507	$8,115,996
19	$14,851,430	-$5,455,359 -$876,234	$8,519,837
20	$15,593,940	-$5,730,088 -$920,042	$8,943,810
21	$16,373,760	-$6,018,622 -$966,052	$9,389,086
22	$17,192,530	-$6,321,566 -$1,014,359	$9,856,605
23	$18,051,890	-$6,639,530 -$1,065,062	$10,347,298
24	$18,954,710	-$6,973,573 -$1,118,328	$10,862,809
25	$19,902,220	-$7,324,152 -$1,174,231	$11,403,837
26	$20,897,700	-$7,692,479 -$1,232,964	$11,972,257
27	$21,942,380	-$8,079,011 -$1,294,600	$12,568,769
28	$23,039,540	-$8,484,960 -$1,359,333	$13,195,247
29	$24,191,640	-$8,911,237 -$1,427,307	$13,853,096
30	$25,401,140	-$9,358,752 -$1,498,667	$14,543,721