The jackpot for the MEGA Millions draw on Tue May 5, 2026, is projected to be $195 Million, with an option for a cash payout of $86.3 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 May 5, 2026 |
|---|
| Draw Date | Tue May 5, 2026 | | Projected Jackpot | $195,000,000 | | Cash Value | $86,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $86,300,000 | | Federal Tax(24%) | $20,712,000 | | Additional Federal Tax | $11,179,330 | | State Tax(5.9%) | $5,091,700 | | Net Lumpsum Payment | $49,316,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,934,945 |
$1,046,260
$173,162 |
$1,715,523 |
| 2 |
$3,081,780 |
$1,100,589
$181,825 |
$1,799,366 |
| 3 |
$3,235,830 |
$1,157,587
$190,914 |
$1,887,329 |
| 4 |
$3,397,680 |
$1,217,472
$200,463 |
$1,979,745 |
| 5 |
$3,567,525 |
$1,280,315
$210,484 |
$2,076,726 |
| 6 |
$3,745,950 |
$1,346,332
$221,011 |
$2,178,607 |
| 7 |
$3,933,150 |
$1,415,596
$232,056 |
$2,285,498 |
| 8 |
$4,129,905 |
$1,488,395
$243,664 |
$2,397,846 |
| 9 |
$4,336,410 |
$1,564,802
$255,848 |
$2,515,760 |
| 10 |
$4,553,250 |
$1,645,033
$268,642 |
$2,639,575 |
| 11 |
$4,780,815 |
$1,729,232
$282,068 |
$2,769,515 |
| 12 |
$5,019,885 |
$1,817,688
$296,173 |
$2,906,024 |
| 13 |
$5,270,850 |
$1,910,545
$310,980 |
$3,049,325 |
| 14 |
$5,534,490 |
$2,008,092
$326,535 |
$3,199,863 |
| 15 |
$5,811,195 |
$2,110,473
$342,861 |
$3,357,861 |
| 16 |
$6,101,745 |
$2,217,976
$360,003 |
$3,523,766 |
| 17 |
$6,406,725 |
$2,330,819
$377,997 |
$3,697,909 |
| 18 |
$6,727,110 |
$2,449,361
$396,899 |
$3,880,850 |
| 19 |
$7,063,485 |
$2,573,820
$416,746 |
$4,072,919 |
| 20 |
$7,416,630 |
$2,704,483
$437,581 |
$4,274,566 |
| 21 |
$7,787,520 |
$2,841,713
$459,464 |
$4,486,343 |
| 22 |
$8,176,935 |
$2,985,796
$482,439 |
$4,708,700 |
| 23 |
$8,585,655 |
$3,137,023
$506,554 |
$4,942,078 |
| 24 |
$9,015,045 |
$3,295,897
$531,888 |
$5,187,260 |
| 25 |
$9,465,690 |
$3,462,636
$558,476 |
$5,444,578 |
| 26 |
$9,939,150 |
$3,637,816
$586,410 |
$5,714,924 |
| 27 |
$10,436,010 |
$3,821,654
$615,725 |
$5,998,631 |
| 28 |
$10,957,830 |
$4,014,727
$646,512 |
$6,296,591 |
| 29 |
$11,505,780 |
$4,217,469
$678,841 |
$6,609,470 |
| 30 |
$12,081,030 |
$4,430,311
$712,781 |
$6,937,938 |
|
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