The jackpot for the MEGA Millions draw on Fri Oct 17, 2025, is projected to be $625 Million, with an option for a cash payout of $288.8 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 Oct 17, 2025 |
|---|
| Draw Date | Fri Oct 17, 2025 | | Projected Jackpot | $625,000,000 | | Cash Value | $288,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $288,800,000 | | Federal Tax(24%) | $69,312,000 | | Additional Federal Tax | $37,504,330 | | State Tax(5.9%) | $17,039,200 | | Net Lumpsum Payment | $164,944,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$9,406,875 |
$3,440,874
$555,006 |
$5,410,995 |
| 2 |
$9,877,500 |
$3,615,005
$582,773 |
$5,679,722 |
| 3 |
$10,371,250 |
$3,797,693
$611,904 |
$5,961,653 |
| 4 |
$10,890,000 |
$3,989,630
$642,510 |
$6,257,860 |
| 5 |
$11,434,375 |
$4,191,049
$674,628 |
$6,568,698 |
| 6 |
$12,006,250 |
$4,402,643
$708,369 |
$6,895,238 |
| 7 |
$12,606,250 |
$4,624,643
$743,769 |
$7,237,838 |
| 8 |
$13,236,875 |
$4,857,974
$780,976 |
$7,597,925 |
| 9 |
$13,898,750 |
$5,102,868
$820,026 |
$7,975,856 |
| 10 |
$14,593,750 |
$5,360,018
$861,031 |
$8,372,701 |
| 11 |
$15,323,125 |
$5,629,887
$904,064 |
$8,789,174 |
| 12 |
$16,089,375 |
$5,913,399
$949,273 |
$9,226,703 |
| 13 |
$16,893,750 |
$6,211,018
$996,731 |
$9,686,001 |
| 14 |
$17,738,750 |
$6,523,668
$1,046,586 |
$10,168,496 |
| 15 |
$18,625,625 |
$6,851,812
$1,098,912 |
$10,674,901 |
| 16 |
$19,556,875 |
$7,196,374
$1,153,856 |
$11,206,645 |
| 17 |
$20,534,375 |
$7,558,049
$1,211,528 |
$11,764,798 |
| 18 |
$21,561,250 |
$7,937,993
$1,272,114 |
$12,351,143 |
| 19 |
$22,639,375 |
$8,336,899
$1,335,723 |
$12,966,753 |
| 20 |
$23,771,250 |
$8,755,693
$1,402,504 |
$13,613,053 |
| 21 |
$24,960,000 |
$9,195,530
$1,472,640 |
$14,291,830 |
| 22 |
$26,208,125 |
$9,657,337
$1,546,279 |
$15,004,509 |
| 23 |
$27,518,125 |
$10,142,037
$1,623,569 |
$15,752,519 |
| 24 |
$28,894,375 |
$10,651,249
$1,704,768 |
$16,538,358 |
| 25 |
$30,338,750 |
$11,185,668
$1,789,986 |
$17,363,096 |
| 26 |
$31,856,250 |
$11,747,143
$1,879,519 |
$18,229,588 |
| 27 |
$33,448,750 |
$12,336,368
$1,973,476 |
$19,138,906 |
| 28 |
$35,121,250 |
$12,955,193
$2,072,154 |
$20,093,903 |
| 29 |
$36,877,500 |
$13,605,005
$2,175,773 |
$21,096,722 |
| 30 |
$38,721,250 |
$14,287,193
$2,284,554 |
$22,149,503 |
|
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