New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Oct 24, 2026 is estimated to be $674 Million, with a cash option of 283.9 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 Oct 24, 2026

Draw Date	Jackpot	Cash Option
Sat Oct 24, 2026	$674,000,000	$283,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$283,900,000
Federal Tax(24%)	$68,136,000
Additional Federal Tax	$36,867,330
State Tax(5.9%)	$16,750,100
Net Lumpsum Payment	$162,146,570

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,144,374	-$3,713,749 -$598,518	$5,832,107
2	$10,651,896	-$3,901,532 -$628,462	$6,121,902
3	$11,184,356	-$4,098,542 -$659,877	$6,425,937
4	$11,743,776	-$4,305,528 -$692,883	$6,745,365
5	$12,330,830	-$4,522,737 -$727,519	$7,080,574
6	$12,947,540	-$4,750,920 -$763,905	$7,432,715
7	$13,594,580	-$4,990,325 -$802,080	$7,802,175
8	$14,274,646	-$5,241,949 -$842,204	$8,190,493
9	$14,988,412	-$5,506,043 -$884,316	$8,598,053
10	$15,737,900	-$5,783,353 -$928,536	$9,026,011
11	$16,524,458	-$6,074,380 -$974,943	$9,475,135
12	$17,350,782	-$6,380,120 -$1,023,696	$9,946,966
13	$18,218,220	-$6,701,072 -$1,074,875	$10,442,273
14	$19,129,468	-$7,038,234 -$1,128,639	$10,962,595
15	$20,085,874	-$7,392,104 -$1,185,067	$11,508,703
16	$21,090,134	-$7,763,680 -$1,244,318	$12,082,136
17	$22,144,270	-$8,153,710 -$1,306,512	$12,684,048
18	$23,251,652	-$8,563,442 -$1,371,847	$13,316,363
19	$24,414,302	-$8,993,622 -$1,440,444	$13,980,236
20	$25,634,916	-$9,445,249 -$1,512,460	$14,677,207
21	$26,916,864	-$9,919,570 -$1,588,095	$15,409,199
22	$28,262,842	-$10,417,582 -$1,667,508	$16,177,752
23	$29,675,546	-$10,940,282 -$1,750,857	$16,984,407
24	$31,159,694	-$11,489,417 -$1,838,422	$17,831,855
25	$32,717,308	-$12,065,734 -$1,930,321	$18,721,253
26	$34,353,780	-$12,671,229 -$2,026,873	$19,655,678
27	$36,071,132	-$13,306,649 -$2,128,197	$20,636,286
28	$37,874,756	-$13,973,990 -$2,234,611	$21,666,155
29	$39,768,696	-$14,674,748 -$2,346,353	$22,747,595
30	$41,756,996	-$15,410,419 -$2,463,663	$23,882,914