The jackpot for the Powerball draw on Sat Aug 30, 2025, is projected to be $950 Million, with an option for a cash payout of $428.9 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 Sat Aug 30, 2025 |
|---|
| Draw Date | Sat Aug 30, 2025 | | Projected Jackpot | $950,000,000 | | Cash Value | $428,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $428,900,000 | | Federal Tax(24%) | $102,936,000 | | Additional Federal Tax | $55,717,330 | | State Tax(5.9%) | $25,305,100 | | Net Lumpsum Payment | $244,941,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$14,298,450 |
$5,250,757
$843,609 |
$8,204,084 |
| 2 |
$15,013,800 |
$5,515,436
$885,814 |
$8,612,550 |
| 3 |
$15,764,300 |
$5,793,121
$930,094 |
$9,041,085 |
| 4 |
$16,552,800 |
$6,084,866
$976,615 |
$9,491,319 |
| 5 |
$17,380,250 |
$6,391,023
$1,025,435 |
$9,963,792 |
| 6 |
$18,249,500 |
$6,712,645
$1,076,721 |
$10,460,134 |
| 7 |
$19,161,500 |
$7,050,085
$1,130,529 |
$10,980,886 |
| 8 |
$20,120,050 |
$7,404,749
$1,187,083 |
$11,528,218 |
| 9 |
$21,126,100 |
$7,776,987
$1,246,440 |
$12,102,673 |
| 10 |
$22,182,500 |
$8,167,855
$1,308,768 |
$12,705,877 |
| 11 |
$23,291,150 |
$8,578,056
$1,374,178 |
$13,338,916 |
| 12 |
$24,455,850 |
$9,008,995
$1,442,895 |
$14,003,960 |
| 13 |
$25,678,500 |
$9,461,375
$1,515,032 |
$14,702,093 |
| 14 |
$26,962,900 |
$9,936,603
$1,590,811 |
$15,435,486 |
| 15 |
$28,310,950 |
$10,435,382
$1,670,346 |
$16,205,222 |
| 16 |
$29,726,450 |
$10,959,117
$1,753,861 |
$17,013,472 |
| 17 |
$31,212,250 |
$11,508,863
$1,841,523 |
$17,861,864 |
| 18 |
$32,773,100 |
$12,086,377
$1,933,613 |
$18,753,110 |
| 19 |
$34,411,850 |
$12,692,715
$2,030,299 |
$19,688,836 |
| 20 |
$36,132,300 |
$13,329,281
$2,131,806 |
$20,671,213 |
| 21 |
$37,939,200 |
$13,997,834
$2,238,413 |
$21,702,953 |
| 22 |
$39,836,350 |
$14,699,780
$2,350,345 |
$22,786,225 |
| 23 |
$41,827,550 |
$15,436,524
$2,467,825 |
$23,923,201 |
| 24 |
$43,919,450 |
$16,210,527
$2,591,248 |
$25,117,675 |
| 25 |
$46,114,900 |
$17,022,843
$2,720,779 |
$26,371,278 |
| 26 |
$48,421,500 |
$17,876,285
$2,856,869 |
$27,688,346 |
| 27 |
$50,842,100 |
$18,771,907
$2,999,684 |
$29,070,509 |
| 28 |
$53,384,300 |
$19,712,521
$3,149,674 |
$30,522,105 |
| 29 |
$56,053,800 |
$20,700,236
$3,307,174 |
$32,046,390 |
| 30 |
$58,856,300 |
$21,737,161
$3,472,522 |
$33,646,617 |
|
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