The jackpot for the MEGA Millions draw on Fri Jan 16, 2026, is projected to be $230 Million, with an option for a cash payout of $105.1 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 Fri Jan 16, 2026 |
|---|
| Draw Date | Fri Jan 16, 2026 | | Projected Jackpot | $230,000,000 | | Cash Value | $105,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $105,100,000 | | Federal Tax(24%) | $25,224,000 | | Additional Federal Tax | $13,623,330 | | State Tax(5.9%) | $6,200,900 | | Net Lumpsum Payment | $60,051,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,461,730 |
$1,241,170
$204,242 |
$2,016,318 |
| 2 |
$3,634,920 |
$1,305,251
$214,460 |
$2,115,209 |
| 3 |
$3,816,620 |
$1,372,480
$225,181 |
$2,218,959 |
| 4 |
$4,007,520 |
$1,443,113
$236,444 |
$2,327,963 |
| 5 |
$4,207,850 |
$1,517,235
$248,263 |
$2,442,352 |
| 6 |
$4,418,300 |
$1,595,101
$260,680 |
$2,562,519 |
| 7 |
$4,639,100 |
$1,676,797
$273,707 |
$2,688,596 |
| 8 |
$4,871,170 |
$1,762,663
$287,399 |
$2,821,108 |
| 9 |
$5,114,740 |
$1,852,784
$301,770 |
$2,960,186 |
| 10 |
$5,370,500 |
$1,947,415
$316,860 |
$3,106,225 |
| 11 |
$5,638,910 |
$2,046,727
$332,696 |
$3,259,487 |
| 12 |
$5,920,890 |
$2,151,060
$349,333 |
$3,420,497 |
| 13 |
$6,216,900 |
$2,260,583
$366,797 |
$3,589,520 |
| 14 |
$6,527,860 |
$2,375,639
$385,144 |
$3,767,077 |
| 15 |
$6,854,230 |
$2,496,395
$404,400 |
$3,953,435 |
| 16 |
$7,196,930 |
$2,623,194
$424,619 |
$4,149,117 |
| 17 |
$7,556,650 |
$2,756,291
$445,842 |
$4,354,517 |
| 18 |
$7,934,540 |
$2,896,110
$468,138 |
$4,570,292 |
| 19 |
$8,331,290 |
$3,042,908
$491,546 |
$4,796,836 |
| 20 |
$8,747,820 |
$3,197,024
$516,121 |
$5,034,675 |
| 21 |
$9,185,280 |
$3,358,884
$541,932 |
$5,284,464 |
| 22 |
$9,644,590 |
$3,528,829
$569,031 |
$5,546,730 |
| 23 |
$10,126,670 |
$3,707,198
$597,474 |
$5,821,998 |
| 24 |
$10,633,130 |
$3,894,588
$627,355 |
$6,111,187 |
| 25 |
$11,164,660 |
$4,091,255
$658,715 |
$6,414,690 |
| 26 |
$11,723,100 |
$4,297,877
$691,663 |
$6,733,560 |
| 27 |
$12,309,140 |
$4,514,712
$726,239 |
$7,068,189 |
| 28 |
$12,924,620 |
$4,742,440
$762,553 |
$7,419,627 |
| 29 |
$13,570,920 |
$4,981,571
$800,684 |
$7,788,665 |
| 30 |
$14,249,420 |
$5,232,616
$840,716 |
$8,176,088 |
|
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