The jackpot for the MEGA Millions draw on Tue Jun 24, 2025, is projected to be $326 Million, with an option for a cash payout of $145.7 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 Tue Jun 24, 2025 |
|---|
| Draw Date | Tue Jun 24, 2025 | | Projected Jackpot | $326,000,000 | | Cash Value | $145,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $145,700,000 | | Federal Tax(24%) | $34,968,000 | | Additional Federal Tax | $18,901,330 | | State Tax(5.9%) | $8,596,300 | | Net Lumpsum Payment | $83,234,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,906,626 |
$1,775,782
$289,491 |
$2,841,353 |
| 2 |
$5,152,104 |
$1,866,609
$303,974 |
$2,981,521 |
| 3 |
$5,409,644 |
$1,961,899
$319,169 |
$3,128,576 |
| 4 |
$5,680,224 |
$2,062,013
$335,133 |
$3,283,078 |
| 5 |
$5,964,170 |
$2,167,073
$351,886 |
$3,445,211 |
| 6 |
$6,262,460 |
$2,277,441
$369,485 |
$3,615,534 |
| 7 |
$6,575,420 |
$2,393,236
$387,950 |
$3,794,234 |
| 8 |
$6,904,354 |
$2,514,941
$407,357 |
$3,982,056 |
| 9 |
$7,249,588 |
$2,642,678
$427,726 |
$4,179,184 |
| 10 |
$7,612,100 |
$2,776,807
$449,114 |
$4,386,179 |
| 11 |
$7,992,542 |
$2,917,571
$471,560 |
$4,603,411 |
| 12 |
$8,392,218 |
$3,065,451
$495,141 |
$4,831,626 |
| 13 |
$8,811,780 |
$3,220,689
$519,895 |
$5,071,196 |
| 14 |
$9,252,532 |
$3,383,767
$545,899 |
$5,322,866 |
| 15 |
$9,715,126 |
$3,554,927
$573,192 |
$5,587,007 |
| 16 |
$10,200,866 |
$3,734,651
$601,851 |
$5,864,364 |
| 17 |
$10,710,730 |
$3,923,300
$631,933 |
$6,155,497 |
| 18 |
$11,246,348 |
$4,121,479
$663,535 |
$6,461,334 |
| 19 |
$11,808,698 |
$4,329,549
$696,713 |
$6,782,436 |
| 20 |
$12,399,084 |
$4,547,991
$731,546 |
$7,119,547 |
| 21 |
$13,019,136 |
$4,777,411
$768,129 |
$7,473,596 |
| 22 |
$13,670,158 |
$5,018,289
$806,539 |
$7,845,330 |
| 23 |
$14,353,454 |
$5,271,108
$846,854 |
$8,235,492 |
| 24 |
$15,071,306 |
$5,536,714
$889,207 |
$8,645,385 |
| 25 |
$15,824,692 |
$5,815,466
$933,657 |
$9,075,569 |
| 26 |
$16,616,220 |
$6,108,332
$980,357 |
$9,527,531 |
| 27 |
$17,446,868 |
$6,415,672
$1,029,365 |
$10,001,831 |
| 28 |
$18,319,244 |
$6,738,451
$1,080,835 |
$10,499,958 |
| 29 |
$19,235,304 |
$7,077,393
$1,134,883 |
$11,023,028 |
| 30 |
$20,197,004 |
$7,433,222
$1,191,623 |
$11,572,159 |
|
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