The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 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 Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(5.9%) | $3,398,400 | | Net Lumpsum Payment | $32,929,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$113,665 |
$1,139,717 |
| 2 |
$2,022,912 |
$708,808
$119,352 |
$1,194,752 |
| 3 |
$2,124,032 |
$746,222
$125,318 |
$1,252,492 |
| 4 |
$2,230,272 |
$785,531
$131,586 |
$1,313,155 |
| 5 |
$2,341,760 |
$826,782
$138,164 |
$1,376,814 |
| 6 |
$2,458,880 |
$870,116
$145,074 |
$1,443,690 |
| 7 |
$2,581,760 |
$915,582
$152,324 |
$1,513,854 |
| 8 |
$2,710,912 |
$963,368
$159,944 |
$1,587,600 |
| 9 |
$2,846,464 |
$1,013,522
$167,941 |
$1,665,001 |
| 10 |
$2,988,800 |
$1,066,186
$176,339 |
$1,746,275 |
| 11 |
$3,138,176 |
$1,121,456
$185,152 |
$1,831,568 |
| 12 |
$3,295,104 |
$1,179,519
$194,411 |
$1,921,174 |
| 13 |
$3,459,840 |
$1,240,471
$204,131 |
$2,015,238 |
| 14 |
$3,632,896 |
$1,304,502
$214,341 |
$2,114,053 |
| 15 |
$3,814,528 |
$1,371,706
$225,057 |
$2,217,765 |
| 16 |
$4,005,248 |
$1,442,272
$236,310 |
$2,326,666 |
| 17 |
$4,205,440 |
$1,516,343
$248,121 |
$2,440,976 |
| 18 |
$4,415,744 |
$1,594,156
$260,529 |
$2,561,059 |
| 19 |
$4,636,544 |
$1,675,852
$273,556 |
$2,687,136 |
| 20 |
$4,868,352 |
$1,761,621
$287,233 |
$2,819,498 |
| 21 |
$5,111,808 |
$1,851,699
$301,597 |
$2,958,512 |
| 22 |
$5,367,424 |
$1,946,277
$316,678 |
$3,104,469 |
| 23 |
$5,635,712 |
$2,045,544
$332,507 |
$3,257,661 |
| 24 |
$5,917,568 |
$2,149,831
$349,137 |
$3,418,600 |
| 25 |
$6,213,376 |
$2,259,280
$366,589 |
$3,587,507 |
| 26 |
$6,524,160 |
$2,374,270
$384,925 |
$3,764,965 |
| 27 |
$6,850,304 |
$2,494,943
$404,168 |
$3,951,193 |
| 28 |
$7,192,832 |
$2,621,678
$424,377 |
$4,146,777 |
| 29 |
$7,552,512 |
$2,754,760
$445,598 |
$4,352,154 |
| 30 |
$7,930,112 |
$2,894,472
$467,877 |
$4,567,763 |
|
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