Jackpot Analysis New Mexico Mega Millions

Jackpot Analysis for New Mexico Mega Millions
The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Fri Apr 4, 2025
Draw DateFri Apr 4, 2025
Projected Jackpot$43,000,000
Cash Value$20,000,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$20,000,000
Federal Tax(24%)$4,800,000
Additional Federal Tax$2,560,330
State Tax(5.9%)$1,180,000
Net Lumpsum Payment$11,459,670
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $647,193 $199,792
$38,184
$409,217
2 $679,572 $211,772
$40,095
$427,705
3 $713,542 $224,341
$42,099
$447,102
4 $749,232 $237,546
$44,205
$467,481
5 $786,685 $251,404
$46,414
$488,867
6 $826,030 $265,961
$48,736
$511,333
7 $867,310 $281,235
$51,171
$534,904
8 $910,697 $297,288
$53,731
$559,678
9 $956,234 $314,137
$56,418
$585,679
10 $1,004,050 $331,829
$59,239
$612,982
11 $1,054,231 $350,396
$62,200
$641,635
12 $1,106,949 $369,902
$65,310
$671,737
13 $1,162,290 $390,378
$68,575
$703,337
14 $1,220,426 $411,888
$72,005
$736,533
15 $1,281,443 $434,464
$75,605
$771,374
16 $1,345,513 $458,170
$79,385
$807,958
17 $1,412,765 $483,053
$83,353
$846,359
18 $1,483,414 $509,194
$87,521
$886,699
19 $1,557,589 $536,638
$91,898
$929,053
20 $1,635,462 $565,451
$96,492
$973,519
21 $1,717,248 $595,712
$101,318
$1,020,218
22 $1,803,119 $627,484
$106,384
$1,069,251
23 $1,893,247 $660,832
$111,702
$1,120,713
24 $1,987,933 $695,866
$117,288
$1,174,779
25 $2,087,306 $732,634
$123,151
$1,231,521
26 $2,191,710 $771,263
$129,311
$1,291,136
27 $2,301,274 $811,802
$135,775
$1,353,697
28 $2,416,342 $854,377
$142,564
$1,419,401
29 $2,537,172 $899,084
$149,693
$1,488,395
30 $2,664,022 $946,019
$157,177
$1,560,826