The jackpot for the Powerball draw on Sat Aug 9, 2025, is projected to be $482 Million, with an option for a cash payout of $218.9 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 Aug 9, 2025 |
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Draw Date | Sat Aug 9, 2025 | Projected Jackpot | $482,000,000 | Cash Value | $218,900,000 |
Lumpsum Option Taxes and Payment |
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Cash Gross Payment | $218,900,000 | Federal Tax(24%) | $52,536,000 | Additional Federal Tax | $28,417,330 | State Tax(5.9%) | $12,915,100 | Net Lumpsum Payment | $125,031,570 |
Annuity Payment in 30 Installations |
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Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
1 |
$7,254,582 |
$2,644,526 $428,020 |
$4,182,036 |
2 |
$7,617,528 |
$2,778,816 $449,434 |
$4,389,278 |
3 |
$7,998,308 |
$2,919,704 $471,900 |
$4,606,704 |
4 |
$8,398,368 |
$3,067,727 $495,504 |
$4,835,137 |
5 |
$8,818,190 |
$3,223,061 $520,273 |
$5,074,856 |
6 |
$9,259,220 |
$3,386,242 $546,294 |
$5,326,684 |
7 |
$9,721,940 |
$3,557,448 $573,594 |
$5,590,898 |
8 |
$10,208,278 |
$3,737,393 $602,288 |
$5,868,597 |
9 |
$10,718,716 |
$3,926,255 $632,404 |
$6,160,057 |
10 |
$11,254,700 |
$4,124,569 $664,027 |
$6,466,104 |
11 |
$11,817,194 |
$4,332,692 $697,214 |
$6,787,288 |
12 |
$12,408,126 |
$4,551,337 $732,079 |
$7,124,710 |
13 |
$13,028,460 |
$4,780,861 $768,679 |
$7,478,920 |
14 |
$13,680,124 |
$5,021,976 $807,127 |
$7,851,021 |
15 |
$14,364,082 |
$5,275,041 $847,481 |
$8,241,560 |
16 |
$15,082,262 |
$5,540,767 $889,853 |
$8,651,642 |
17 |
$15,836,110 |
$5,819,691 $934,330 |
$9,082,089 |
18 |
$16,628,036 |
$6,112,704 $981,054 |
$9,534,278 |
19 |
$17,459,486 |
$6,420,340 $1,030,110 |
$10,009,036 |
20 |
$18,332,388 |
$6,743,314 $1,081,611 |
$10,507,463 |
21 |
$19,249,152 |
$7,082,517 $1,135,700 |
$11,030,935 |
22 |
$20,211,706 |
$7,438,662 $1,192,491 |
$11,580,553 |
23 |
$21,221,978 |
$7,812,462 $1,252,097 |
$12,157,419 |
24 |
$22,283,342 |
$8,205,167 $1,314,717 |
$12,763,458 |
25 |
$23,397,244 |
$8,617,311 $1,380,437 |
$13,399,496 |
26 |
$24,567,540 |
$9,050,320 $1,449,485 |
$14,067,735 |
27 |
$25,795,676 |
$9,504,731 $1,521,945 |
$14,769,000 |
28 |
$27,085,508 |
$9,981,968 $1,598,045 |
$15,505,495 |
29 |
$28,439,928 |
$10,483,104 $1,677,956 |
$16,278,868 |
30 |
$29,861,828 |
$11,009,207 $1,761,848 |
$17,090,773 |
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