The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(5.9%) | $8,732,000 | | Net Lumpsum Payment | $84,547,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$290,379 |
$2,849,947 |
| 2 |
$5,167,908 |
$1,872,456
$304,907 |
$2,990,545 |
| 3 |
$5,426,238 |
$1,968,038
$320,148 |
$3,138,052 |
| 4 |
$5,697,648 |
$2,068,460
$336,161 |
$3,293,027 |
| 5 |
$5,982,465 |
$2,173,842
$352,965 |
$3,455,658 |
| 6 |
$6,281,670 |
$2,284,548
$370,619 |
$3,626,503 |
| 7 |
$6,595,590 |
$2,400,699
$389,140 |
$3,805,751 |
| 8 |
$6,925,533 |
$2,522,778
$408,606 |
$3,994,149 |
| 9 |
$7,271,826 |
$2,650,906
$429,038 |
$4,191,882 |
| 10 |
$7,635,450 |
$2,785,447
$450,492 |
$4,399,511 |
| 11 |
$8,017,059 |
$2,926,642
$473,006 |
$4,617,411 |
| 12 |
$8,417,961 |
$3,074,976
$496,660 |
$4,846,325 |
| 13 |
$8,838,810 |
$3,230,690
$521,490 |
$5,086,630 |
| 14 |
$9,280,914 |
$3,394,269
$547,574 |
$5,339,071 |
| 15 |
$9,744,927 |
$3,565,953
$574,951 |
$5,604,023 |
| 16 |
$10,232,157 |
$3,746,228
$603,697 |
$5,882,232 |
| 17 |
$10,743,585 |
$3,935,457
$633,872 |
$6,174,256 |
| 18 |
$11,280,846 |
$4,134,243
$665,570 |
$6,481,033 |
| 19 |
$11,844,921 |
$4,342,951
$698,850 |
$6,803,120 |
| 20 |
$12,437,118 |
$4,562,064
$733,790 |
$7,141,264 |
| 21 |
$13,059,072 |
$4,792,187
$770,485 |
$7,496,400 |
| 22 |
$13,712,091 |
$5,033,804
$809,013 |
$7,869,274 |
| 23 |
$14,397,483 |
$5,287,399
$849,451 |
$8,260,633 |
| 24 |
$15,117,537 |
$5,553,819
$891,935 |
$8,671,783 |
| 25 |
$15,873,234 |
$5,833,427
$936,521 |
$9,103,286 |
| 26 |
$16,667,190 |
$6,127,191
$983,364 |
$9,556,635 |
| 27 |
$17,500,386 |
$6,435,473
$1,032,523 |
$10,032,390 |
| 28 |
$18,375,438 |
$6,759,242
$1,084,151 |
$10,532,045 |
| 29 |
$19,294,308 |
$7,099,224
$1,138,364 |
$11,056,720 |
| 30 |
$20,258,958 |
$7,456,145
$1,195,279 |
$11,607,534 |
|
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