The jackpot for the Powerball draw on Mon Jun 16, 2025, is projected to be $90 Million, with an option for a cash payout of $40.7 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 16, 2025 |
|---|
| Draw Date | Mon Jun 16, 2025 | | Projected Jackpot | $90,000,000 | | Cash Value | $40,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $40,700,000 | | Federal Tax(24%) | $9,768,000 | | Additional Federal Tax | $5,251,330 | | State Tax(5.9%) | $2,401,300 | | Net Lumpsum Payment | $23,279,370 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,354,590 |
$461,529
$79,921 |
$813,140 |
| 2 |
$1,422,360 |
$486,604
$83,919 |
$851,837 |
| 3 |
$1,493,460 |
$512,911
$88,114 |
$892,435 |
| 4 |
$1,568,160 |
$540,550
$92,521 |
$935,089 |
| 5 |
$1,646,550 |
$569,554
$97,146 |
$979,850 |
| 6 |
$1,728,900 |
$600,023
$102,005 |
$1,026,872 |
| 7 |
$1,815,300 |
$631,991
$107,103 |
$1,076,206 |
| 8 |
$1,906,110 |
$665,591
$112,460 |
$1,128,059 |
| 9 |
$2,001,420 |
$700,856
$118,084 |
$1,182,480 |
| 10 |
$2,101,500 |
$737,885
$123,989 |
$1,239,626 |
| 11 |
$2,206,530 |
$776,746
$130,185 |
$1,299,599 |
| 12 |
$2,316,870 |
$817,572
$136,695 |
$1,362,603 |
| 13 |
$2,432,700 |
$860,429
$143,529 |
$1,428,742 |
| 14 |
$2,554,380 |
$905,451
$150,708 |
$1,498,221 |
| 15 |
$2,682,090 |
$952,704
$158,243 |
$1,571,143 |
| 16 |
$2,816,190 |
$1,002,321
$166,155 |
$1,647,714 |
| 17 |
$2,956,950 |
$1,054,402
$174,460 |
$1,728,088 |
| 18 |
$3,104,820 |
$1,109,114
$183,184 |
$1,812,522 |
| 19 |
$3,260,070 |
$1,166,556
$192,344 |
$1,901,170 |
| 20 |
$3,423,060 |
$1,226,863
$201,961 |
$1,994,236 |
| 21 |
$3,594,240 |
$1,290,199
$212,060 |
$2,091,981 |
| 22 |
$3,773,970 |
$1,356,699
$222,664 |
$2,194,607 |
| 23 |
$3,962,610 |
$1,426,496
$233,794 |
$2,302,320 |
| 24 |
$4,160,790 |
$1,499,823
$245,487 |
$2,415,480 |
| 25 |
$4,368,780 |
$1,576,779
$257,758 |
$2,534,243 |
| 26 |
$4,587,300 |
$1,657,631
$270,651 |
$2,659,018 |
| 27 |
$4,816,620 |
$1,742,480
$284,181 |
$2,789,959 |
| 28 |
$5,057,460 |
$1,831,591
$298,390 |
$2,927,479 |
| 29 |
$5,310,360 |
$1,925,164
$313,311 |
$3,071,885 |
| 30 |
$5,575,860 |
$2,023,399
$328,976 |
$3,223,485 |
|
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