The jackpot for the MEGA Millions draw on Tue Feb 3, 2026, is projected to be $323 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 Feb 3, 2026 |
|---|
| Draw Date | Tue Feb 3, 2026 | | Projected Jackpot | $323,000,000 | | 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 |
$4,861,473 |
$1,759,075
$286,827 |
$2,815,571 |
| 2 |
$5,104,692 |
$1,849,066
$301,177 |
$2,954,449 |
| 3 |
$5,359,862 |
$1,943,479
$316,232 |
$3,100,151 |
| 4 |
$5,627,952 |
$2,042,673
$332,049 |
$3,253,230 |
| 5 |
$5,909,285 |
$2,146,766
$348,648 |
$3,413,871 |
| 6 |
$6,204,830 |
$2,256,117
$366,085 |
$3,582,628 |
| 7 |
$6,514,910 |
$2,370,847
$384,380 |
$3,759,683 |
| 8 |
$6,840,817 |
$2,491,433
$403,608 |
$3,945,776 |
| 9 |
$7,182,874 |
$2,617,994
$423,790 |
$4,141,090 |
| 10 |
$7,542,050 |
$2,750,889
$444,981 |
$4,346,180 |
| 11 |
$7,918,991 |
$2,890,357
$467,220 |
$4,561,414 |
| 12 |
$8,314,989 |
$3,036,876
$490,584 |
$4,787,529 |
| 13 |
$8,730,690 |
$3,190,686
$515,111 |
$5,024,893 |
| 14 |
$9,167,386 |
$3,352,263
$540,876 |
$5,274,247 |
| 15 |
$9,625,723 |
$3,521,848
$567,918 |
$5,535,957 |
| 16 |
$10,106,993 |
$3,699,918
$596,313 |
$5,810,762 |
| 17 |
$10,612,165 |
$3,886,831
$626,118 |
$6,099,216 |
| 18 |
$11,142,854 |
$4,083,186
$657,428 |
$6,402,240 |
| 19 |
$11,700,029 |
$4,289,341
$690,302 |
$6,720,386 |
| 20 |
$12,284,982 |
$4,505,774
$724,814 |
$7,054,394 |
| 21 |
$12,899,328 |
$4,733,082
$761,060 |
$7,405,186 |
| 22 |
$13,544,359 |
$4,971,743
$799,117 |
$7,773,499 |
| 23 |
$14,221,367 |
$5,222,236
$839,061 |
$8,160,070 |
| 24 |
$14,932,613 |
$5,485,397
$881,024 |
$8,566,192 |
| 25 |
$15,679,066 |
$5,761,585
$925,065 |
$8,992,416 |
| 26 |
$16,463,310 |
$6,051,755
$971,335 |
$9,440,220 |
| 27 |
$17,286,314 |
$6,356,267
$1,019,893 |
$9,910,154 |
| 28 |
$18,150,662 |
$6,676,075
$1,070,889 |
$10,403,698 |
| 29 |
$19,058,292 |
$7,011,898
$1,124,439 |
$10,921,955 |
| 30 |
$20,011,142 |
$7,364,453
$1,180,657 |
$11,466,032 |
|
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