The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For New Mexico residents, the state will deduct 5.9% from your lottery earnings.
| New Mexico Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
|---|
| Draw Date | Sat Apr 5, 2025 | | Projected Jackpot | $47,000,000 | | Cash Value | $21,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,800,000 | | Federal Tax(24%) | $5,232,000 | | Additional Federal Tax | $2,794,330 | | State Tax(5.9%) | $1,286,200 | | Net Lumpsum Payment | $12,487,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$707,397 |
$222,067
$41,736 |
$443,594 |
| 2 |
$742,788 |
$235,162
$43,824 |
$463,802 |
| 3 |
$779,918 |
$248,900
$46,015 |
$485,003 |
| 4 |
$818,928 |
$263,334
$48,317 |
$507,277 |
| 5 |
$859,865 |
$278,480
$50,732 |
$530,653 |
| 6 |
$902,870 |
$294,392
$53,269 |
$555,209 |
| 7 |
$947,990 |
$311,087
$55,931 |
$580,972 |
| 8 |
$995,413 |
$328,633
$58,729 |
$608,051 |
| 9 |
$1,045,186 |
$347,049
$61,666 |
$636,471 |
| 10 |
$1,097,450 |
$366,387
$64,750 |
$666,313 |
| 11 |
$1,152,299 |
$386,681
$67,986 |
$697,632 |
| 12 |
$1,209,921 |
$408,001
$71,385 |
$730,535 |
| 13 |
$1,270,410 |
$430,382
$74,954 |
$765,074 |
| 14 |
$1,333,954 |
$453,893
$78,703 |
$801,358 |
| 15 |
$1,400,647 |
$478,570
$82,638 |
$839,439 |
| 16 |
$1,470,677 |
$504,481
$86,770 |
$879,426 |
| 17 |
$1,544,185 |
$531,679
$91,107 |
$921,399 |
| 18 |
$1,621,406 |
$560,251
$95,663 |
$965,492 |
| 19 |
$1,702,481 |
$590,248
$100,446 |
$1,011,787 |
| 20 |
$1,787,598 |
$621,742
$105,468 |
$1,060,388 |
| 21 |
$1,876,992 |
$654,817
$110,743 |
$1,111,432 |
| 22 |
$1,970,851 |
$689,545
$116,280 |
$1,165,026 |
| 23 |
$2,069,363 |
$725,995
$122,092 |
$1,221,276 |
| 24 |
$2,172,857 |
$764,287
$128,199 |
$1,280,371 |
| 25 |
$2,281,474 |
$804,476
$134,607 |
$1,342,391 |
| 26 |
$2,395,590 |
$846,699
$141,340 |
$1,407,551 |
| 27 |
$2,515,346 |
$891,008
$148,405 |
$1,475,933 |
| 28 |
$2,641,118 |
$937,544
$155,826 |
$1,547,748 |
| 29 |
$2,773,188 |
$986,410
$163,618 |
$1,623,160 |
| 30 |
$2,911,838 |
$1,037,710
$171,798 |
$1,702,330 |
|
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