The jackpot for the MEGA Millions draw on Tue Jun 17, 2025, is projected to be $280 Million, with an option for a cash payout of $126.1 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 17, 2025 |
|---|
| Draw Date | Tue Jun 17, 2025 | | Projected Jackpot | $280,000,000 | | Cash Value | $126,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,100,000 | | Federal Tax(24%) | $30,264,000 | | Additional Federal Tax | $16,353,330 | | State Tax(5.9%) | $7,439,900 | | Net Lumpsum Payment | $72,042,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,214,280 |
$1,519,614
$248,643 |
$2,446,023 |
| 2 |
$4,425,120 |
$1,597,625
$261,082 |
$2,566,413 |
| 3 |
$4,646,320 |
$1,679,469
$274,133 |
$2,692,718 |
| 4 |
$4,878,720 |
$1,765,457
$287,844 |
$2,825,419 |
| 5 |
$5,122,600 |
$1,855,692
$302,233 |
$2,964,675 |
| 6 |
$5,378,800 |
$1,950,486
$317,349 |
$3,110,965 |
| 7 |
$5,647,600 |
$2,049,942
$333,208 |
$3,264,450 |
| 8 |
$5,930,120 |
$2,154,475
$349,877 |
$3,425,768 |
| 9 |
$6,226,640 |
$2,264,187
$367,372 |
$3,595,081 |
| 10 |
$6,538,000 |
$2,379,390
$385,742 |
$3,772,868 |
| 11 |
$6,864,760 |
$2,500,292
$405,021 |
$3,959,447 |
| 12 |
$7,208,040 |
$2,627,305
$425,274 |
$4,155,461 |
| 13 |
$7,568,400 |
$2,760,638
$446,536 |
$4,361,226 |
| 14 |
$7,946,960 |
$2,900,706
$468,871 |
$4,577,383 |
| 15 |
$8,344,280 |
$3,047,714
$492,313 |
$4,804,253 |
| 16 |
$8,761,480 |
$3,202,078
$516,927 |
$5,042,475 |
| 17 |
$9,199,400 |
$3,364,108
$542,765 |
$5,292,527 |
| 18 |
$9,659,440 |
$3,534,323
$569,907 |
$5,555,210 |
| 19 |
$10,142,440 |
$3,713,033
$598,404 |
$5,831,003 |
| 20 |
$10,649,520 |
$3,900,653
$628,322 |
$6,120,545 |
| 21 |
$11,182,080 |
$4,097,700
$659,743 |
$6,424,637 |
| 22 |
$11,741,240 |
$4,304,589
$692,733 |
$6,743,918 |
| 23 |
$12,328,120 |
$4,521,735
$727,359 |
$7,079,026 |
| 24 |
$12,944,680 |
$4,749,862
$763,736 |
$7,431,082 |
| 25 |
$13,591,760 |
$4,989,282
$801,914 |
$7,800,564 |
| 26 |
$14,271,600 |
$5,240,822
$842,024 |
$8,188,754 |
| 27 |
$14,985,040 |
$5,504,795
$884,117 |
$8,596,128 |
| 28 |
$15,734,320 |
$5,782,029
$928,325 |
$9,023,966 |
| 29 |
$16,521,120 |
$6,073,145
$974,746 |
$9,473,229 |
| 30 |
$17,347,120 |
$6,378,765
$1,023,480 |
$9,944,875 |
|
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