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 |
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Draw Date | Fri Apr 4, 2025 | Projected Jackpot | $43,000,000 | Cash Value | $20,000,000 |
Lumpsum Option Taxes and Payment |
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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 |
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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 |
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