The jackpot for the Powerball draw on Sat Apr 26, 2025, is projected to be $168 Million, with an option for a cash payout of $77.1 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 26, 2025 |
|---|
| Draw Date | Sat Apr 26, 2025 | | Projected Jackpot | $168,000,000 | | Cash Value | $77,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $77,100,000 | | Federal Tax(24%) | $18,504,000 | | Additional Federal Tax | $9,983,330 | | State Tax(5.9%) | $4,548,900 | | Net Lumpsum Payment | $44,063,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,528,568 |
$895,901
$149,186 |
$1,483,481 |
| 2 |
$2,655,072 |
$942,707
$156,649 |
$1,555,716 |
| 3 |
$2,787,792 |
$991,813
$164,480 |
$1,631,499 |
| 4 |
$2,927,232 |
$1,043,406
$172,707 |
$1,711,119 |
| 5 |
$3,073,560 |
$1,097,548
$181,340 |
$1,794,672 |
| 6 |
$3,227,280 |
$1,154,424
$190,410 |
$1,882,446 |
| 7 |
$3,388,560 |
$1,214,098
$199,925 |
$1,974,537 |
| 8 |
$3,558,072 |
$1,276,817
$209,926 |
$2,071,329 |
| 9 |
$3,735,984 |
$1,342,644
$220,423 |
$2,172,917 |
| 10 |
$3,922,800 |
$1,411,766
$231,445 |
$2,279,589 |
| 11 |
$4,118,856 |
$1,484,307
$243,013 |
$2,391,536 |
| 12 |
$4,324,824 |
$1,560,515
$255,165 |
$2,509,144 |
| 13 |
$4,541,040 |
$1,640,515
$267,921 |
$2,632,604 |
| 14 |
$4,768,176 |
$1,724,556
$281,322 |
$2,762,298 |
| 15 |
$5,006,568 |
$1,812,761
$295,388 |
$2,898,419 |
| 16 |
$5,256,888 |
$1,905,379
$310,156 |
$3,041,353 |
| 17 |
$5,519,640 |
$2,002,597
$325,659 |
$3,191,384 |
| 18 |
$5,795,664 |
$2,104,726
$341,944 |
$3,348,994 |
| 19 |
$6,085,464 |
$2,211,952
$359,042 |
$3,514,470 |
| 20 |
$6,389,712 |
$2,324,524
$376,993 |
$3,688,195 |
| 21 |
$6,709,248 |
$2,442,752
$395,846 |
$3,870,650 |
| 22 |
$7,044,744 |
$2,566,886
$415,640 |
$4,062,218 |
| 23 |
$7,396,872 |
$2,697,173
$436,415 |
$4,263,284 |
| 24 |
$7,766,808 |
$2,834,049
$458,242 |
$4,474,517 |
| 25 |
$8,155,056 |
$2,977,701
$481,148 |
$4,696,207 |
| 26 |
$8,562,960 |
$3,128,626
$505,215 |
$4,929,119 |
| 27 |
$8,991,024 |
$3,287,009
$530,470 |
$5,173,545 |
| 28 |
$9,440,592 |
$3,453,349
$556,995 |
$5,430,248 |
| 29 |
$9,912,672 |
$3,628,019
$584,848 |
$5,699,805 |
| 30 |
$10,408,272 |
$3,811,391
$614,088 |
$5,982,793 |
|
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