The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 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 Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(5.9%) | $7,339,600 | | Net Lumpsum Payment | $71,072,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$241,538 |
$2,377,271 |
| 2 |
$4,298,688 |
$1,550,845
$253,623 |
$2,494,220 |
| 3 |
$4,513,568 |
$1,630,351
$266,301 |
$2,616,916 |
| 4 |
$4,739,328 |
$1,713,882
$279,620 |
$2,745,826 |
| 5 |
$4,976,240 |
$1,801,539
$293,598 |
$2,881,103 |
| 6 |
$5,225,120 |
$1,893,625
$308,282 |
$3,023,213 |
| 7 |
$5,486,240 |
$1,990,239
$323,688 |
$3,172,313 |
| 8 |
$5,760,688 |
$2,091,785
$339,881 |
$3,329,022 |
| 9 |
$6,048,736 |
$2,198,363
$356,875 |
$3,493,498 |
| 10 |
$6,351,200 |
$2,310,274
$374,721 |
$3,666,205 |
| 11 |
$6,668,624 |
$2,427,721
$393,449 |
$3,847,454 |
| 12 |
$7,002,096 |
$2,551,106
$413,124 |
$4,037,866 |
| 13 |
$7,352,160 |
$2,680,630
$433,777 |
$4,237,753 |
| 14 |
$7,719,904 |
$2,816,695
$455,474 |
$4,447,735 |
| 15 |
$8,105,872 |
$2,959,503
$478,246 |
$4,668,123 |
| 16 |
$8,511,152 |
$3,109,457
$502,158 |
$4,899,537 |
| 17 |
$8,936,560 |
$3,266,858
$527,257 |
$5,142,445 |
| 18 |
$9,383,456 |
$3,432,209
$553,624 |
$5,397,623 |
| 19 |
$9,852,656 |
$3,605,813
$581,307 |
$5,665,536 |
| 20 |
$10,345,248 |
$3,788,072
$610,370 |
$5,946,806 |
| 21 |
$10,862,592 |
$3,979,489
$640,893 |
$6,242,210 |
| 22 |
$11,405,776 |
$4,180,468
$672,941 |
$6,552,367 |
| 23 |
$11,975,888 |
$4,391,409
$706,577 |
$6,877,902 |
| 24 |
$12,574,832 |
$4,613,018
$741,915 |
$7,219,899 |
| 25 |
$13,203,424 |
$4,845,597
$779,002 |
$7,578,825 |
| 26 |
$13,863,840 |
$5,089,951
$817,967 |
$7,955,922 |
| 27 |
$14,556,896 |
$5,346,382
$858,857 |
$8,351,657 |
| 28 |
$15,284,768 |
$5,615,695
$901,801 |
$8,767,272 |
| 29 |
$16,049,088 |
$5,898,493
$946,896 |
$9,203,699 |
| 30 |
$16,851,488 |
$6,195,381
$994,238 |
$9,661,869 |
|
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