The jackpot for the MEGA Millions draw on Tue Feb 24, 2026, is projected to be $438 Million, with an option for a cash payout of $203.1 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 Feb 24, 2026 |
|---|
| Draw Date | Tue Feb 24, 2026 | | Projected Jackpot | $438,000,000 | | Cash Value | $203,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $203,100,000 | | Federal Tax(24%) | $48,744,000 | | Additional Federal Tax | $26,363,330 | | State Tax(5.9%) | $11,982,900 | | Net Lumpsum Payment | $116,009,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,592,338 |
$2,399,495
$388,948 |
$3,803,895 |
| 2 |
$6,922,152 |
$2,521,527
$408,407 |
$3,992,218 |
| 3 |
$7,268,172 |
$2,649,554
$428,822 |
$4,189,796 |
| 4 |
$7,631,712 |
$2,784,064
$450,271 |
$4,397,377 |
| 5 |
$8,013,210 |
$2,925,218
$472,779 |
$4,615,213 |
| 6 |
$8,413,980 |
$3,073,503
$496,425 |
$4,844,052 |
| 7 |
$8,834,460 |
$3,229,081
$521,233 |
$5,084,146 |
| 8 |
$9,276,402 |
$3,392,599
$547,308 |
$5,336,495 |
| 9 |
$9,740,244 |
$3,564,221
$574,674 |
$5,601,349 |
| 10 |
$10,227,300 |
$3,744,431
$603,411 |
$5,879,458 |
| 11 |
$10,738,446 |
$3,933,555
$633,568 |
$6,171,323 |
| 12 |
$11,275,434 |
$4,132,241
$665,251 |
$6,477,942 |
| 13 |
$11,839,140 |
$4,340,812
$698,509 |
$6,799,819 |
| 14 |
$12,431,316 |
$4,559,917
$733,448 |
$7,137,951 |
| 15 |
$13,052,838 |
$4,789,880
$770,117 |
$7,492,841 |
| 16 |
$13,705,458 |
$5,031,350
$808,622 |
$7,865,486 |
| 17 |
$14,390,490 |
$5,284,812
$849,039 |
$8,256,639 |
| 18 |
$15,110,124 |
$5,551,076
$891,497 |
$8,667,551 |
| 19 |
$15,865,674 |
$5,830,630
$936,075 |
$9,098,969 |
| 20 |
$16,658,892 |
$6,124,120
$982,875 |
$9,551,897 |
| 21 |
$17,491,968 |
$6,432,359
$1,032,026 |
$10,027,583 |
| 22 |
$18,366,654 |
$6,755,992
$1,083,633 |
$10,527,029 |
| 23 |
$19,284,702 |
$7,095,670
$1,137,797 |
$11,051,235 |
| 24 |
$20,249,178 |
$7,452,526
$1,194,702 |
$11,601,950 |
| 25 |
$21,261,396 |
$7,827,047
$1,254,422 |
$12,179,927 |
| 26 |
$22,324,860 |
$8,220,529
$1,317,167 |
$12,787,164 |
| 27 |
$23,440,884 |
$8,633,457
$1,383,012 |
$13,424,415 |
| 28 |
$24,612,972 |
$9,067,130
$1,452,165 |
$14,093,677 |
| 29 |
$25,843,752 |
$9,522,519
$1,524,781 |
$14,796,452 |
| 30 |
$27,135,852 |
$10,000,596
$1,601,015 |
$15,534,241 |
|
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