The jackpot for the Powerball draw on Mon May 12, 2025, is projected to be $93 Million, with an option for a cash payout of $42.3 Million. Should you be the lucky winner of the Powerball 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 Powerball Jackpot/Cash Option for Mon May 12, 2025 |
|---|
| Draw Date | Mon May 12, 2025 | | Projected Jackpot | $93,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(5.9%) | $2,495,700 | | Net Lumpsum Payment | $24,192,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,399,743 |
$478,235
$82,585 |
$838,923 |
| 2 |
$1,469,772 |
$504,146
$86,717 |
$878,909 |
| 3 |
$1,543,242 |
$531,330
$91,051 |
$920,861 |
| 4 |
$1,620,432 |
$559,890
$95,605 |
$964,937 |
| 5 |
$1,701,435 |
$589,861
$100,385 |
$1,011,189 |
| 6 |
$1,786,530 |
$621,346
$105,405 |
$1,059,779 |
| 7 |
$1,875,810 |
$654,380
$110,673 |
$1,110,757 |
| 8 |
$1,969,647 |
$689,100
$116,209 |
$1,164,338 |
| 9 |
$2,068,134 |
$725,540
$122,020 |
$1,220,574 |
| 10 |
$2,171,550 |
$763,804
$128,121 |
$1,279,625 |
| 11 |
$2,280,081 |
$803,960
$134,525 |
$1,341,596 |
| 12 |
$2,394,099 |
$846,147
$141,252 |
$1,406,700 |
| 13 |
$2,513,790 |
$890,433
$148,314 |
$1,475,043 |
| 14 |
$2,639,526 |
$936,955
$155,732 |
$1,546,839 |
| 15 |
$2,771,493 |
$985,783
$163,518 |
$1,622,192 |
| 16 |
$2,910,063 |
$1,037,054
$171,694 |
$1,701,315 |
| 17 |
$3,055,515 |
$1,090,871
$180,275 |
$1,784,369 |
| 18 |
$3,208,314 |
$1,147,407
$189,291 |
$1,871,616 |
| 19 |
$3,368,739 |
$1,206,764
$198,756 |
$1,963,219 |
| 20 |
$3,537,162 |
$1,269,080
$208,693 |
$2,059,389 |
| 21 |
$3,714,048 |
$1,334,528
$219,129 |
$2,160,391 |
| 22 |
$3,899,769 |
$1,403,245
$230,086 |
$2,266,438 |
| 23 |
$4,094,697 |
$1,475,368
$241,587 |
$2,377,742 |
| 24 |
$4,299,483 |
$1,551,139
$253,669 |
$2,494,675 |
| 25 |
$4,514,406 |
$1,630,661
$266,350 |
$2,617,395 |
| 26 |
$4,740,210 |
$1,714,208
$279,672 |
$2,746,330 |
| 27 |
$4,977,174 |
$1,801,885
$293,653 |
$2,881,636 |
| 28 |
$5,226,042 |
$1,893,966
$308,336 |
$3,023,740 |
| 29 |
$5,487,372 |
$1,990,658
$323,755 |
$3,172,959 |
| 30 |
$5,761,722 |
$2,092,168
$339,942 |
$3,329,612 |
|
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