The jackpot for the Powerball draw on Sat Oct 31, 2026, is projected to be $760 Million, with an option for a cash payout of $326 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 Oct 31, 2026 |
|---|
| Draw Date | Sat Oct 31, 2026 | | Projected Jackpot | $760,000,000 | | Cash Value | $326,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $326,000,000 | | Federal Tax(24%) | $78,240,000 | | Additional Federal Tax | $42,340,330 | | State Tax(5.9%) | $19,234,000 | | Net Lumpsum Payment | $186,185,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$11,438,760 |
$4,192,672
$674,887 |
$6,571,201 |
| 2 |
$12,011,040 |
$4,404,415
$708,651 |
$6,897,974 |
| 3 |
$12,611,440 |
$4,626,563
$744,075 |
$7,240,802 |
| 4 |
$13,242,240 |
$4,859,959
$781,292 |
$7,600,989 |
| 5 |
$13,904,200 |
$5,104,884
$820,348 |
$7,978,968 |
| 6 |
$14,599,600 |
$5,362,182
$861,376 |
$8,376,042 |
| 7 |
$15,329,200 |
$5,632,134
$904,423 |
$8,792,643 |
| 8 |
$16,096,040 |
$5,915,865
$949,666 |
$9,230,509 |
| 9 |
$16,900,880 |
$6,213,656
$997,152 |
$9,690,072 |
| 10 |
$17,746,000 |
$6,526,350
$1,047,014 |
$10,172,636 |
| 11 |
$18,632,920 |
$6,854,511
$1,099,342 |
$10,679,067 |
| 12 |
$19,564,680 |
$7,199,262
$1,154,316 |
$11,211,102 |
| 13 |
$20,542,800 |
$7,561,166
$1,212,025 |
$11,769,609 |
| 14 |
$21,570,320 |
$7,941,349
$1,272,649 |
$12,356,322 |
| 15 |
$22,648,760 |
$8,340,372
$1,336,277 |
$12,972,111 |
| 16 |
$23,781,160 |
$8,759,360
$1,403,088 |
$13,618,712 |
| 17 |
$24,969,800 |
$9,199,156
$1,473,218 |
$14,297,426 |
| 18 |
$26,218,480 |
$9,661,168
$1,546,890 |
$15,010,422 |
| 19 |
$27,529,480 |
$10,146,238
$1,624,239 |
$15,759,003 |
| 20 |
$28,905,840 |
$10,655,491
$1,705,445 |
$16,544,904 |
| 21 |
$30,351,360 |
$11,190,334
$1,790,730 |
$17,370,296 |
| 22 |
$31,869,080 |
$11,751,890
$1,880,276 |
$18,236,914 |
| 23 |
$33,462,040 |
$12,341,285
$1,974,260 |
$19,146,495 |
| 24 |
$35,135,560 |
$12,960,488
$2,072,998 |
$20,102,074 |
| 25 |
$36,891,920 |
$13,610,341
$2,176,623 |
$21,104,956 |
| 26 |
$38,737,200 |
$14,293,094
$2,285,495 |
$22,158,611 |
| 27 |
$40,673,680 |
$15,009,592
$2,399,747 |
$23,264,341 |
| 28 |
$42,707,440 |
$15,762,083
$2,519,739 |
$24,425,618 |
| 29 |
$44,843,040 |
$16,552,255
$2,645,739 |
$25,645,046 |
| 30 |
$47,085,040 |
$17,381,795
$2,778,017 |
$26,925,228 |
|
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