The jackpot for the MEGA Millions draw on Tue Jun 2, 2026, is projected to be $346 Million, with an option for a cash payout of $153.8 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 Tue Jun 2, 2026 |
|---|
| Draw Date | Tue Jun 2, 2026 | | Projected Jackpot | $346,000,000 | | Cash Value | $153,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $153,800,000 | | Federal Tax(24%) | $36,912,000 | | Additional Federal Tax | $19,954,330 | | State Tax(5.9%) | $9,074,200 | | Net Lumpsum Payment | $87,859,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,207,646 |
$1,887,159
$307,251 |
$3,013,236 |
| 2 |
$5,468,184 |
$1,983,558
$322,623 |
$3,162,003 |
| 3 |
$5,741,524 |
$2,084,694
$338,750 |
$3,318,080 |
| 4 |
$6,028,704 |
$2,190,951
$355,694 |
$3,482,059 |
| 5 |
$6,330,070 |
$2,302,456
$373,474 |
$3,654,140 |
| 6 |
$6,646,660 |
$2,419,595
$392,153 |
$3,834,912 |
| 7 |
$6,978,820 |
$2,542,494
$411,750 |
$4,024,576 |
| 8 |
$7,327,934 |
$2,671,666
$432,348 |
$4,223,920 |
| 9 |
$7,694,348 |
$2,807,239
$453,967 |
$4,433,142 |
| 10 |
$8,079,100 |
$2,949,597
$476,667 |
$4,652,836 |
| 11 |
$8,482,882 |
$3,098,997
$500,490 |
$4,883,395 |
| 12 |
$8,907,078 |
$3,255,949
$525,518 |
$5,125,611 |
| 13 |
$9,352,380 |
$3,420,711
$551,790 |
$5,379,879 |
| 14 |
$9,820,172 |
$3,593,794
$579,390 |
$5,646,988 |
| 15 |
$10,311,146 |
$3,775,454
$608,358 |
$5,927,334 |
| 16 |
$10,826,686 |
$3,966,204
$638,774 |
$6,221,708 |
| 17 |
$11,367,830 |
$4,166,427
$670,702 |
$6,530,701 |
| 18 |
$11,936,308 |
$4,376,764
$704,242 |
$6,855,302 |
| 19 |
$12,533,158 |
$4,597,599
$739,456 |
$7,196,103 |
| 20 |
$13,159,764 |
$4,829,443
$776,426 |
$7,553,895 |
| 21 |
$13,817,856 |
$5,072,937
$815,254 |
$7,929,665 |
| 22 |
$14,508,818 |
$5,328,593
$856,020 |
$8,324,205 |
| 23 |
$15,234,034 |
$5,596,923
$898,808 |
$8,738,303 |
| 24 |
$15,995,926 |
$5,878,823
$943,760 |
$9,173,343 |
| 25 |
$16,795,532 |
$6,174,677
$990,936 |
$9,629,919 |
| 26 |
$17,635,620 |
$6,485,510
$1,040,502 |
$10,109,608 |
| 27 |
$18,517,228 |
$6,811,705
$1,092,516 |
$10,613,007 |
| 28 |
$19,443,124 |
$7,154,286
$1,147,144 |
$11,141,694 |
| 29 |
$20,415,384 |
$7,514,022
$1,204,508 |
$11,696,854 |
| 30 |
$21,436,084 |
$7,891,681
$1,264,729 |
$12,279,674 |
|
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