The jackpot for the Powerball draw on Sat Jan 3, 2026, is projected to be $64 Million, with an option for a cash payout of $29.5 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 Jan 3, 2026 |
|---|
| Draw Date | Sat Jan 3, 2026 | | Projected Jackpot | $64,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(5.9%) | $1,740,500 | | Net Lumpsum Payment | $16,884,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$56,833 |
$589,693 |
| 2 |
$1,011,456 |
$334,569
$59,676 |
$617,211 |
| 3 |
$1,062,016 |
$353,276
$62,659 |
$646,081 |
| 4 |
$1,115,136 |
$372,931
$65,793 |
$676,412 |
| 5 |
$1,170,880 |
$393,556
$69,082 |
$708,242 |
| 6 |
$1,229,440 |
$415,223
$72,537 |
$741,680 |
| 7 |
$1,290,880 |
$437,956
$76,162 |
$776,762 |
| 8 |
$1,355,456 |
$461,849
$79,972 |
$813,635 |
| 9 |
$1,423,232 |
$486,926
$83,971 |
$852,335 |
| 10 |
$1,494,400 |
$513,258
$88,170 |
$892,972 |
| 11 |
$1,569,088 |
$540,893
$92,576 |
$935,619 |
| 12 |
$1,647,552 |
$569,925
$97,206 |
$980,421 |
| 13 |
$1,729,920 |
$600,401
$102,065 |
$1,027,454 |
| 14 |
$1,816,448 |
$632,416
$107,170 |
$1,076,862 |
| 15 |
$1,907,264 |
$666,018
$112,529 |
$1,128,717 |
| 16 |
$2,002,624 |
$701,301
$118,155 |
$1,183,168 |
| 17 |
$2,102,720 |
$738,337
$124,060 |
$1,240,323 |
| 18 |
$2,207,872 |
$777,243
$130,264 |
$1,300,365 |
| 19 |
$2,318,272 |
$818,091
$136,778 |
$1,363,403 |
| 20 |
$2,434,176 |
$860,976
$143,616 |
$1,429,584 |
| 21 |
$2,555,904 |
$906,015
$150,798 |
$1,499,091 |
| 22 |
$2,683,712 |
$953,304
$158,339 |
$1,572,069 |
| 23 |
$2,817,856 |
$1,002,937
$166,254 |
$1,648,665 |
| 24 |
$2,958,784 |
$1,055,080
$174,568 |
$1,729,136 |
| 25 |
$3,106,688 |
$1,109,805
$183,295 |
$1,813,588 |
| 26 |
$3,262,080 |
$1,167,300
$192,463 |
$1,902,317 |
| 27 |
$3,425,152 |
$1,227,637
$202,084 |
$1,995,431 |
| 28 |
$3,596,416 |
$1,291,004
$212,189 |
$2,093,223 |
| 29 |
$3,776,256 |
$1,357,545
$222,799 |
$2,195,912 |
| 30 |
$3,965,056 |
$1,427,401
$233,938 |
$2,303,717 |
|
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