The jackpot for the MEGA Millions draw on Fri Jan 2, 2026, is projected to be $157 Million, with an option for a cash payout of $72 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 2, 2026 |
|---|
| Draw Date | Fri Jan 2, 2026 | | Projected Jackpot | $157,000,000 | | Cash Value | $72,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $72,000,000 | | Federal Tax(24%) | $17,280,000 | | Additional Federal Tax | $9,320,330 | | State Tax(5.9%) | $4,248,000 | | Net Lumpsum Payment | $41,151,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,363,007 |
$834,643
$139,417 |
$1,388,947 |
| 2 |
$2,481,228 |
$878,385
$146,392 |
$1,456,451 |
| 3 |
$2,605,258 |
$924,276
$153,710 |
$1,527,272 |
| 4 |
$2,735,568 |
$972,491
$161,399 |
$1,601,678 |
| 5 |
$2,872,315 |
$1,023,087
$169,467 |
$1,679,761 |
| 6 |
$3,015,970 |
$1,076,239
$177,942 |
$1,761,789 |
| 7 |
$3,166,690 |
$1,132,006
$186,835 |
$1,847,849 |
| 8 |
$3,325,103 |
$1,190,618
$196,181 |
$1,938,304 |
| 9 |
$3,491,366 |
$1,252,136
$205,991 |
$2,033,239 |
| 10 |
$3,665,950 |
$1,316,732
$216,291 |
$2,132,927 |
| 11 |
$3,849,169 |
$1,384,523
$227,101 |
$2,237,545 |
| 12 |
$4,041,651 |
$1,455,741
$238,457 |
$2,347,453 |
| 13 |
$4,243,710 |
$1,530,503
$250,379 |
$2,462,828 |
| 14 |
$4,455,974 |
$1,609,041
$262,902 |
$2,584,031 |
| 15 |
$4,678,757 |
$1,691,470
$276,047 |
$2,711,240 |
| 16 |
$4,912,687 |
$1,778,025
$289,849 |
$2,844,813 |
| 17 |
$5,158,235 |
$1,868,877
$304,336 |
$2,985,022 |
| 18 |
$5,416,186 |
$1,964,319
$319,555 |
$3,132,312 |
| 19 |
$5,687,011 |
$2,064,524
$335,534 |
$3,286,953 |
| 20 |
$5,971,338 |
$2,169,725
$352,309 |
$3,449,304 |
| 21 |
$6,269,952 |
$2,280,213
$369,927 |
$3,619,812 |
| 22 |
$6,583,481 |
$2,396,218
$388,425 |
$3,798,838 |
| 23 |
$6,912,553 |
$2,517,975
$407,841 |
$3,986,737 |
| 24 |
$7,258,267 |
$2,645,889
$428,238 |
$4,184,140 |
| 25 |
$7,621,094 |
$2,780,135
$449,645 |
$4,391,314 |
| 26 |
$8,002,290 |
$2,921,178
$472,135 |
$4,608,977 |
| 27 |
$8,402,326 |
$3,069,191
$495,737 |
$4,837,398 |
| 28 |
$8,822,458 |
$3,224,640
$520,525 |
$5,077,293 |
| 29 |
$9,263,628 |
$3,387,873
$546,554 |
$5,329,201 |
| 30 |
$9,726,778 |
$3,559,238
$573,880 |
$5,593,660 |
|
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