New Mexico Lottery

NMLottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Oct 8, 2025 is estimated to be $223 Million, with a cash option of 104.4 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 Wed Oct 8, 2025

Draw Date	Jackpot	Cash Option
Wed Oct 8, 2025	$223,000,000	$104,400,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$104,400,000
Federal Tax(24%)	$25,056,000
Additional Federal Tax	$13,532,330
State Tax(5.9%)	$6,159,600
Net Lumpsum Payment	$59,652,070

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,356,373	-$1,202,188 -$198,026	$1,956,159
2	$3,524,292	-$1,264,318 -$207,933	$2,052,041
3	$3,700,462	-$1,329,501 -$218,327	$2,152,634
4	$3,885,552	-$1,397,985 -$229,248	$2,258,319
5	$4,079,785	-$1,469,851 -$240,707	$2,369,227
6	$4,283,830	-$1,545,347 -$252,746	$2,485,737
7	$4,497,910	-$1,624,557 -$265,377	$2,607,976
8	$4,722,917	-$1,707,810 -$278,652	$2,736,455
9	$4,959,074	-$1,795,188 -$292,585	$2,871,301
10	$5,207,050	-$1,886,939 -$307,216	$3,012,895
11	$5,467,291	-$1,983,228 -$322,570	$3,161,493
12	$5,740,689	-$2,084,385 -$338,701	$3,317,603
13	$6,027,690	-$2,190,576 -$355,634	$3,481,480
14	$6,329,186	-$2,302,129 -$373,422	$3,653,635
15	$6,645,623	-$2,419,211 -$392,092	$3,834,320
16	$6,977,893	-$2,542,151 -$411,696	$4,024,046
17	$7,326,665	-$2,671,196 -$432,273	$4,223,196
18	$7,693,054	-$2,806,760 -$453,890	$4,432,404
19	$8,077,729	-$2,949,090 -$476,586	$4,652,053
20	$8,481,582	-$3,098,516 -$500,413	$4,882,653
21	$8,905,728	-$3,255,450 -$525,438	$5,124,840
22	$9,351,059	-$3,420,222 -$551,712	$5,379,125
23	$9,818,467	-$3,593,163 -$579,290	$5,646,014
24	$10,309,513	-$3,774,850 -$608,261	$5,926,402
25	$10,824,866	-$3,965,531 -$638,667	$6,220,668
26	$11,366,310	-$4,165,865 -$670,612	$6,529,833
27	$11,934,514	-$4,376,101 -$704,136	$6,854,277
28	$12,531,262	-$4,596,897 -$739,344	$7,195,021
29	$13,157,892	-$4,828,750 -$776,316	$7,552,826
30	$13,815,742	-$5,072,155 -$815,129	$7,928,458