The jackpot for the MEGA Millions draw on Tue Sep 16, 2025, is projected to be $400 Million, with an option for a cash payout of $185.8 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 Sep 16, 2025 |
|---|
| Draw Date | Tue Sep 16, 2025 | | Projected Jackpot | $400,000,000 | | Cash Value | $185,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $185,800,000 | | Federal Tax(24%) | $44,592,000 | | Additional Federal Tax | $24,114,330 | | State Tax(5.9%) | $10,962,200 | | Net Lumpsum Payment | $106,131,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,020,400 |
$2,187,878
$355,204 |
$3,477,318 |
| 2 |
$6,321,600 |
$2,299,322
$372,974 |
$3,649,304 |
| 3 |
$6,637,600 |
$2,416,242
$391,618 |
$3,829,740 |
| 4 |
$6,969,600 |
$2,539,082
$411,206 |
$4,019,312 |
| 5 |
$7,318,000 |
$2,667,990
$431,762 |
$4,218,248 |
| 6 |
$7,684,000 |
$2,803,410
$453,356 |
$4,427,234 |
| 7 |
$8,068,000 |
$2,945,490
$476,012 |
$4,646,498 |
| 8 |
$8,471,600 |
$3,094,822
$499,824 |
$4,876,954 |
| 9 |
$8,895,200 |
$3,251,554
$524,817 |
$5,118,829 |
| 10 |
$9,340,000 |
$3,416,130
$551,060 |
$5,372,810 |
| 11 |
$9,806,800 |
$3,588,846
$578,601 |
$5,639,353 |
| 12 |
$10,297,200 |
$3,770,294
$607,535 |
$5,919,371 |
| 13 |
$10,812,000 |
$3,960,770
$637,908 |
$6,213,322 |
| 14 |
$11,352,800 |
$4,160,866
$669,815 |
$6,522,119 |
| 15 |
$11,920,400 |
$4,370,878
$703,304 |
$6,846,218 |
| 16 |
$12,516,400 |
$4,591,398
$738,468 |
$7,186,534 |
| 17 |
$13,142,000 |
$4,822,870
$775,378 |
$7,543,752 |
| 18 |
$13,799,200 |
$5,066,034
$814,153 |
$7,919,013 |
| 19 |
$14,489,200 |
$5,321,334
$854,863 |
$8,313,003 |
| 20 |
$15,213,600 |
$5,589,362
$897,602 |
$8,726,636 |
| 21 |
$15,974,400 |
$5,870,858
$942,490 |
$9,161,052 |
| 22 |
$16,773,200 |
$6,166,414
$989,619 |
$9,617,167 |
| 23 |
$17,611,600 |
$6,476,622
$1,039,084 |
$10,095,894 |
| 24 |
$18,492,400 |
$6,802,518
$1,091,052 |
$10,598,830 |
| 25 |
$19,416,800 |
$7,144,546
$1,145,591 |
$11,126,663 |
| 26 |
$20,388,000 |
$7,503,890
$1,202,892 |
$11,681,218 |
| 27 |
$21,407,200 |
$7,880,994
$1,263,025 |
$12,263,181 |
| 28 |
$22,477,600 |
$8,277,042
$1,326,178 |
$12,874,380 |
| 29 |
$23,601,600 |
$8,692,922
$1,392,494 |
$13,516,184 |
| 30 |
$24,781,600 |
$9,129,522
$1,462,114 |
$14,189,964 |
|
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