The jackpot for the Powerball draw on Wed Jan 28, 2026, is projected to be $43 Million, with an option for a cash payout of $19.4 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 Jan 28, 2026 |
|---|
| Draw Date | Wed Jan 28, 2026 | | Projected Jackpot | $43,000,000 | | Cash Value | $19,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $19,400,000 | | Federal Tax(24%) | $4,656,000 | | Additional Federal Tax | $2,482,330 | | State Tax(5.9%) | $1,144,600 | | Net Lumpsum Payment | $11,117,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$38,184 |
$409,217 |
| 2 |
$679,572 |
$211,772
$40,095 |
$427,705 |
| 3 |
$713,542 |
$224,341
$42,099 |
$447,102 |
| 4 |
$749,232 |
$237,546
$44,205 |
$467,481 |
| 5 |
$786,685 |
$251,404
$46,414 |
$488,867 |
| 6 |
$826,030 |
$265,961
$48,736 |
$511,333 |
| 7 |
$867,310 |
$281,235
$51,171 |
$534,904 |
| 8 |
$910,697 |
$297,288
$53,731 |
$559,678 |
| 9 |
$956,234 |
$314,137
$56,418 |
$585,679 |
| 10 |
$1,004,050 |
$331,829
$59,239 |
$612,982 |
| 11 |
$1,054,231 |
$350,396
$62,200 |
$641,635 |
| 12 |
$1,106,949 |
$369,902
$65,310 |
$671,737 |
| 13 |
$1,162,290 |
$390,378
$68,575 |
$703,337 |
| 14 |
$1,220,426 |
$411,888
$72,005 |
$736,533 |
| 15 |
$1,281,443 |
$434,464
$75,605 |
$771,374 |
| 16 |
$1,345,513 |
$458,170
$79,385 |
$807,958 |
| 17 |
$1,412,765 |
$483,053
$83,353 |
$846,359 |
| 18 |
$1,483,414 |
$509,194
$87,521 |
$886,699 |
| 19 |
$1,557,589 |
$536,638
$91,898 |
$929,053 |
| 20 |
$1,635,462 |
$565,451
$96,492 |
$973,519 |
| 21 |
$1,717,248 |
$595,712
$101,318 |
$1,020,218 |
| 22 |
$1,803,119 |
$627,484
$106,384 |
$1,069,251 |
| 23 |
$1,893,247 |
$660,832
$111,702 |
$1,120,713 |
| 24 |
$1,987,933 |
$695,866
$117,288 |
$1,174,779 |
| 25 |
$2,087,306 |
$732,634
$123,151 |
$1,231,521 |
| 26 |
$2,191,710 |
$771,263
$129,311 |
$1,291,136 |
| 27 |
$2,301,274 |
$811,802
$135,775 |
$1,353,697 |
| 28 |
$2,416,342 |
$854,377
$142,564 |
$1,419,401 |
| 29 |
$2,537,172 |
$899,084
$149,693 |
$1,488,395 |
| 30 |
$2,664,022 |
$946,019
$157,177 |
$1,560,826 |
|
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