The jackpot for the Powerball draw on Sat Oct 11, 2025, is projected to be $244 Million, with an option for a cash payout of $114.2 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 Sat Oct 11, 2025 |
|---|
| Draw Date | Sat Oct 11, 2025 | | Projected Jackpot | $244,000,000 | | Cash Value | $114,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $114,200,000 | | Federal Tax(24%) | $27,408,000 | | Additional Federal Tax | $14,806,330 | | State Tax(5.9%) | $6,737,800 | | Net Lumpsum Payment | $65,247,870 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,672,444 |
$1,319,135
$216,674 |
$2,136,635 |
| 2 |
$3,856,176 |
$1,387,116
$227,514 |
$2,241,546 |
| 3 |
$4,048,936 |
$1,458,437
$238,887 |
$2,351,612 |
| 4 |
$4,251,456 |
$1,533,369
$250,836 |
$2,467,251 |
| 5 |
$4,463,980 |
$1,612,003
$263,375 |
$2,588,602 |
| 6 |
$4,687,240 |
$1,694,609
$276,547 |
$2,716,084 |
| 7 |
$4,921,480 |
$1,781,278
$290,367 |
$2,849,835 |
| 8 |
$5,167,676 |
$1,872,371
$304,893 |
$2,990,412 |
| 9 |
$5,426,072 |
$1,967,977
$320,138 |
$3,137,957 |
| 10 |
$5,697,400 |
$2,068,368
$336,147 |
$3,292,885 |
| 11 |
$5,982,148 |
$2,173,725
$352,947 |
$3,455,476 |
| 12 |
$6,281,292 |
$2,284,408
$370,596 |
$3,626,288 |
| 13 |
$6,595,320 |
$2,400,599
$389,124 |
$3,805,597 |
| 14 |
$6,925,208 |
$2,522,657
$408,587 |
$3,993,964 |
| 15 |
$7,271,444 |
$2,650,765
$429,015 |
$4,191,664 |
| 16 |
$7,635,004 |
$2,785,282
$450,465 |
$4,399,257 |
| 17 |
$8,016,620 |
$2,926,480
$472,981 |
$4,617,159 |
| 18 |
$8,417,512 |
$3,074,810
$496,633 |
$4,846,069 |
| 19 |
$8,838,412 |
$3,230,543
$521,466 |
$5,086,403 |
| 20 |
$9,280,296 |
$3,394,040
$547,537 |
$5,338,719 |
| 21 |
$9,744,384 |
$3,565,752
$574,919 |
$5,603,713 |
| 22 |
$10,231,652 |
$3,746,042
$603,667 |
$5,881,943 |
| 23 |
$10,743,076 |
$3,935,269
$633,841 |
$6,173,966 |
| 24 |
$11,280,364 |
$4,134,065
$665,541 |
$6,480,758 |
| 25 |
$11,844,248 |
$4,342,702
$698,811 |
$6,802,735 |
| 26 |
$12,436,680 |
$4,561,902
$733,764 |
$7,141,014 |
| 27 |
$13,058,392 |
$4,791,935
$770,445 |
$7,496,012 |
| 28 |
$13,711,336 |
$5,033,525
$808,969 |
$7,868,842 |
| 29 |
$14,396,976 |
$5,287,212
$849,422 |
$8,260,342 |
| 30 |
$15,116,776 |
$5,553,538
$891,890 |
$8,671,348 |
|
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