Jackpot Analysis New Mexico Powerball

Jackpot Analysis for New Mexico Powerball
The jackpot for the Powerball draw on Wed Feb 12, 2025, is projected to be $154 Million, with an option for a cash payout of $71.4 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 Wed Feb 12, 2025
Draw DateWed Feb 12, 2025
Projected Jackpot$154,000,000
Cash Value$71,400,000

Lumpsum Option Taxes and Payment
Cash Gross Payment$71,400,000
Federal Tax(24%)$17,136,000
Additional Federal Tax$9,242,330
State Tax(5.9%)$4,212,600
Net Lumpsum Payment$40,809,070
Annuity Payment in 30 Installations
Yr Gross Payment Fed/State Taxes Net Payment
1 $2,317,854 $817,936
$136,753
$1,363,165
2 $2,433,816 $860,842
$143,595
$1,429,379
3 $2,555,476 $905,857
$150,773
$1,498,846
4 $2,683,296 $953,150
$158,314
$1,571,832
5 $2,817,430 $1,002,779
$166,228
$1,648,423
6 $2,958,340 $1,054,916
$174,542
$1,728,882
7 $3,106,180 $1,109,617
$183,265
$1,813,298
8 $3,261,566 $1,167,110
$192,432
$1,902,024
9 $3,424,652 $1,227,452
$202,054
$1,995,146
10 $3,595,900 $1,290,813
$212,158
$2,092,929
11 $3,775,618 $1,357,309
$222,761
$2,195,548
12 $3,964,422 $1,427,167
$233,901
$2,303,354
13 $4,162,620 $1,500,500
$245,595
$2,416,525
14 $4,370,828 $1,577,537
$257,879
$2,535,412
15 $4,589,354 $1,658,391
$270,772
$2,660,191
16 $4,818,814 $1,743,292
$284,310
$2,791,212
17 $5,059,670 $1,832,408
$298,521
$2,928,741
18 $5,312,692 $1,926,026
$313,449
$3,073,217
19 $5,578,342 $2,024,317
$329,122
$3,224,903
20 $5,857,236 $2,127,508
$345,577
$3,384,151
21 $6,150,144 $2,235,884
$362,858
$3,551,402
22 $6,457,682 $2,349,673
$381,003
$3,727,006
23 $6,780,466 $2,469,103
$400,047
$3,911,316
24 $7,119,574 $2,594,573
$420,055
$4,104,946
25 $7,475,468 $2,726,254
$441,053
$4,308,161
26 $7,849,380 $2,864,601
$463,113
$4,521,666
27 $8,241,772 $3,009,786
$486,265
$4,745,721
28 $8,653,876 $3,162,265
$510,579
$4,981,032
29 $9,086,616 $3,322,378
$536,110
$5,228,128
30 $9,540,916 $3,490,469
$562,914
$5,487,533