The jackpot for the Powerball draw on Wed Mar 11, 2026, is projected to be $58 Million, with an option for a cash payout of $26.8 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 Mar 11, 2026 |
|---|
| Draw Date | Wed Mar 11, 2026 | | Projected Jackpot | $58,000,000 | | Cash Value | $26,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,800,000 | | Federal Tax(24%) | $6,432,000 | | Additional Federal Tax | $3,444,330 | | State Tax(5.9%) | $1,581,200 | | Net Lumpsum Payment | $15,342,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$872,958 |
$283,325
$51,505 |
$538,128 |
| 2 |
$916,632 |
$299,484
$54,081 |
$563,067 |
| 3 |
$962,452 |
$316,438
$56,785 |
$589,229 |
| 4 |
$1,010,592 |
$334,249
$59,625 |
$616,718 |
| 5 |
$1,061,110 |
$352,941
$62,605 |
$645,564 |
| 6 |
$1,114,180 |
$372,577
$65,737 |
$675,866 |
| 7 |
$1,169,860 |
$393,179
$69,022 |
$707,659 |
| 8 |
$1,228,382 |
$414,832
$72,475 |
$741,075 |
| 9 |
$1,289,804 |
$437,558
$76,098 |
$776,148 |
| 10 |
$1,354,300 |
$461,421
$79,904 |
$812,975 |
| 11 |
$1,421,986 |
$486,465
$83,897 |
$851,624 |
| 12 |
$1,493,094 |
$512,775
$88,093 |
$892,226 |
| 13 |
$1,567,740 |
$540,394
$92,497 |
$934,849 |
| 14 |
$1,646,156 |
$569,408
$97,123 |
$979,625 |
| 15 |
$1,728,458 |
$599,860
$101,979 |
$1,026,619 |
| 16 |
$1,814,878 |
$631,835
$107,078 |
$1,075,965 |
| 17 |
$1,905,590 |
$665,399
$112,430 |
$1,127,761 |
| 18 |
$2,000,884 |
$700,657
$118,052 |
$1,182,175 |
| 19 |
$2,100,934 |
$737,676
$123,955 |
$1,239,303 |
| 20 |
$2,205,972 |
$776,540
$130,152 |
$1,299,280 |
| 21 |
$2,316,288 |
$817,357
$136,661 |
$1,362,270 |
| 22 |
$2,432,114 |
$860,213
$143,495 |
$1,428,406 |
| 23 |
$2,553,682 |
$905,193
$150,667 |
$1,497,822 |
| 24 |
$2,681,398 |
$952,448
$158,202 |
$1,570,748 |
| 25 |
$2,815,436 |
$1,002,042
$166,111 |
$1,647,283 |
| 26 |
$2,956,260 |
$1,054,147
$174,419 |
$1,727,694 |
| 27 |
$3,104,044 |
$1,108,827
$183,139 |
$1,812,078 |
| 28 |
$3,259,252 |
$1,166,254
$192,296 |
$1,900,702 |
| 29 |
$3,422,232 |
$1,226,556
$201,912 |
$1,993,764 |
| 30 |
$3,593,332 |
$1,289,863
$212,007 |
$2,091,462 |
|
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