The jackpot for the Powerball draw on Wed Jun 25, 2025, is projected to be $140 Million, with an option for a cash payout of $63 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 Wed Jun 25, 2025 |
|---|
| Draw Date | Wed Jun 25, 2025 | | Projected Jackpot | $140,000,000 | | Cash Value | $63,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $63,000,000 | | Federal Tax(24%) | $15,120,000 | | Additional Federal Tax | $8,150,330 | | State Tax(5.9%) | $3,717,000 | | Net Lumpsum Payment | $36,012,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,107,140 |
$739,972
$124,321 |
$1,242,847 |
| 2 |
$2,212,560 |
$778,978
$130,541 |
$1,303,041 |
| 3 |
$2,323,160 |
$819,900
$137,066 |
$1,366,194 |
| 4 |
$2,439,360 |
$862,894
$143,922 |
$1,432,544 |
| 5 |
$2,561,300 |
$908,011
$151,117 |
$1,502,172 |
| 6 |
$2,689,400 |
$955,408
$158,675 |
$1,575,317 |
| 7 |
$2,823,800 |
$1,005,136
$166,604 |
$1,652,060 |
| 8 |
$2,965,060 |
$1,057,403
$174,939 |
$1,732,718 |
| 9 |
$3,113,320 |
$1,112,259
$183,686 |
$1,817,375 |
| 10 |
$3,269,000 |
$1,169,860
$192,871 |
$1,906,269 |
| 11 |
$3,432,380 |
$1,230,311
$202,510 |
$1,999,559 |
| 12 |
$3,604,020 |
$1,293,818
$212,637 |
$2,097,565 |
| 13 |
$3,784,200 |
$1,360,484
$223,268 |
$2,200,448 |
| 14 |
$3,973,480 |
$1,430,518
$234,435 |
$2,308,527 |
| 15 |
$4,172,140 |
$1,504,022
$246,156 |
$2,421,962 |
| 16 |
$4,380,740 |
$1,581,204
$258,464 |
$2,541,072 |
| 17 |
$4,599,700 |
$1,662,219
$271,382 |
$2,666,099 |
| 18 |
$4,829,720 |
$1,747,327
$284,953 |
$2,797,440 |
| 19 |
$5,071,220 |
$1,836,682
$299,202 |
$2,935,336 |
| 20 |
$5,324,760 |
$1,930,492
$314,161 |
$3,080,107 |
| 21 |
$5,591,040 |
$2,029,015
$329,871 |
$3,232,154 |
| 22 |
$5,870,620 |
$2,132,460
$346,367 |
$3,391,793 |
| 23 |
$6,164,060 |
$2,241,033
$363,680 |
$3,559,347 |
| 24 |
$6,472,340 |
$2,355,096
$381,868 |
$3,735,376 |
| 25 |
$6,795,880 |
$2,474,806
$400,957 |
$3,920,117 |
| 26 |
$7,135,800 |
$2,600,576
$421,012 |
$4,114,212 |
| 27 |
$7,492,520 |
$2,732,563
$442,059 |
$4,317,898 |
| 28 |
$7,867,160 |
$2,871,180
$464,162 |
$4,531,818 |
| 29 |
$8,260,560 |
$3,016,738
$487,373 |
$4,756,449 |
| 30 |
$8,673,560 |
$3,169,548
$511,740 |
$4,992,272 |
|
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