The jackpot for the Powerball draw on Wed Apr 1, 2026, is projected to be $194 Million, with an option for a cash payout of $87.1 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 Wed Apr 1, 2026 |
|---|
| Draw Date | Wed Apr 1, 2026 | | Projected Jackpot | $194,000,000 | | Cash Value | $87,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $87,100,000 | | Federal Tax(24%) | $20,904,000 | | Additional Federal Tax | $11,283,330 | | State Tax(5.9%) | $5,138,900 | | Net Lumpsum Payment | $49,773,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,919,894 |
$1,040,691
$172,274 |
$1,706,929 |
| 2 |
$3,065,976 |
$1,094,742
$180,893 |
$1,790,341 |
| 3 |
$3,219,236 |
$1,151,448
$189,935 |
$1,877,853 |
| 4 |
$3,380,256 |
$1,211,025
$199,435 |
$1,969,796 |
| 5 |
$3,549,230 |
$1,273,545
$209,405 |
$2,066,280 |
| 6 |
$3,726,740 |
$1,339,224
$219,878 |
$2,167,638 |
| 7 |
$3,912,980 |
$1,408,133
$230,866 |
$2,273,981 |
| 8 |
$4,108,726 |
$1,480,559
$242,415 |
$2,385,752 |
| 9 |
$4,314,172 |
$1,556,574
$254,536 |
$2,503,062 |
| 10 |
$4,529,900 |
$1,636,393
$267,264 |
$2,626,243 |
| 11 |
$4,756,298 |
$1,720,161
$280,622 |
$2,755,515 |
| 12 |
$4,994,142 |
$1,808,163
$294,654 |
$2,891,325 |
| 13 |
$5,243,820 |
$1,900,544
$309,385 |
$3,033,891 |
| 14 |
$5,506,108 |
$1,997,590
$324,860 |
$3,183,658 |
| 15 |
$5,781,394 |
$2,099,446
$341,102 |
$3,340,846 |
| 16 |
$6,070,454 |
$2,206,398
$358,157 |
$3,505,899 |
| 17 |
$6,373,870 |
$2,318,662
$376,058 |
$3,679,150 |
| 18 |
$6,692,612 |
$2,436,597
$394,864 |
$3,861,151 |
| 19 |
$7,027,262 |
$2,560,417
$414,608 |
$4,052,237 |
| 20 |
$7,378,596 |
$2,690,411
$435,337 |
$4,252,848 |
| 21 |
$7,747,584 |
$2,826,936
$457,107 |
$4,463,541 |
| 22 |
$8,135,002 |
$2,970,281
$479,965 |
$4,684,756 |
| 23 |
$8,541,626 |
$3,120,732
$503,956 |
$4,916,938 |
| 24 |
$8,968,814 |
$3,278,792
$529,160 |
$5,160,862 |
| 25 |
$9,417,148 |
$3,444,675
$555,612 |
$5,416,861 |
| 26 |
$9,888,180 |
$3,618,957
$583,403 |
$5,685,820 |
| 27 |
$10,382,492 |
$3,801,852
$612,567 |
$5,968,073 |
| 28 |
$10,901,636 |
$3,993,936
$643,197 |
$6,264,503 |
| 29 |
$11,446,776 |
$4,195,638
$675,360 |
$6,575,778 |
| 30 |
$12,019,076 |
$4,407,389
$709,125 |
$6,902,562 |
|
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