The jackpot for the Powerball draw on Sat Oct 18, 2025, is projected to be $295 Million, with an option for a cash payout of $138.1 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 Oct 18, 2025 |
|---|
| Draw Date | Sat Oct 18, 2025 | | Projected Jackpot | $295,000,000 | | Cash Value | $138,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $138,100,000 | | Federal Tax(24%) | $33,144,000 | | Additional Federal Tax | $17,913,330 | | State Tax(5.9%) | $8,147,900 | | Net Lumpsum Payment | $78,894,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,440,045 |
$1,603,147
$261,963 |
$2,574,935 |
| 2 |
$4,662,180 |
$1,685,337
$275,069 |
$2,701,774 |
| 3 |
$4,895,230 |
$1,771,565
$288,819 |
$2,834,846 |
| 4 |
$5,140,080 |
$1,862,160
$303,265 |
$2,974,655 |
| 5 |
$5,397,025 |
$1,957,230
$318,424 |
$3,121,371 |
| 6 |
$5,666,950 |
$2,057,102
$334,350 |
$3,275,498 |
| 7 |
$5,950,150 |
$2,161,886
$351,059 |
$3,437,205 |
| 8 |
$6,247,805 |
$2,272,018
$368,620 |
$3,607,167 |
| 9 |
$6,560,210 |
$2,387,608
$387,052 |
$3,785,550 |
| 10 |
$6,888,250 |
$2,508,983
$406,407 |
$3,972,860 |
| 11 |
$7,232,515 |
$2,636,361
$426,718 |
$4,169,436 |
| 12 |
$7,594,185 |
$2,770,179
$448,057 |
$4,375,949 |
| 13 |
$7,973,850 |
$2,910,655
$470,457 |
$4,592,738 |
| 14 |
$8,372,690 |
$3,058,226
$493,989 |
$4,820,475 |
| 15 |
$8,791,295 |
$3,213,110
$518,686 |
$5,059,499 |
| 16 |
$9,230,845 |
$3,375,743
$544,620 |
$5,310,482 |
| 17 |
$9,692,225 |
$3,546,454
$571,841 |
$5,573,930 |
| 18 |
$10,176,910 |
$3,725,787
$600,438 |
$5,850,685 |
| 19 |
$10,685,785 |
$3,914,071
$630,461 |
$6,141,253 |
| 20 |
$11,220,030 |
$4,111,741
$661,982 |
$6,446,307 |
| 21 |
$11,781,120 |
$4,319,345
$695,086 |
$6,766,689 |
| 22 |
$12,370,235 |
$4,537,317
$729,844 |
$7,103,074 |
| 23 |
$12,988,555 |
$4,766,096
$766,325 |
$7,456,134 |
| 24 |
$13,638,145 |
$5,006,444
$804,651 |
$7,827,050 |
| 25 |
$14,319,890 |
$5,258,690
$844,874 |
$8,216,326 |
| 26 |
$15,036,150 |
$5,523,706
$887,133 |
$8,625,311 |
| 27 |
$15,787,810 |
$5,801,820
$931,481 |
$9,054,509 |
| 28 |
$16,577,230 |
$6,093,905
$978,057 |
$9,505,268 |
| 29 |
$17,406,180 |
$6,400,617
$1,026,965 |
$9,978,598 |
| 30 |
$18,276,430 |
$6,722,609
$1,078,309 |
$10,475,512 |
|
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