The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Tue Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(5.9%) | $784,700 | | Net Lumpsum Payment | $7,633,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$25,752 |
$288,899 |
| 2 |
$458,316 |
$129,907
$27,041 |
$301,368 |
| 3 |
$481,226 |
$138,384
$28,392 |
$314,450 |
| 4 |
$505,296 |
$147,290
$29,812 |
$328,194 |
| 5 |
$530,555 |
$156,636
$31,303 |
$342,616 |
| 6 |
$557,090 |
$166,454
$32,868 |
$357,768 |
| 7 |
$584,930 |
$176,754
$34,511 |
$373,665 |
| 8 |
$614,191 |
$187,581
$36,237 |
$390,373 |
| 9 |
$644,902 |
$198,944
$38,049 |
$407,909 |
| 10 |
$677,150 |
$210,876
$39,952 |
$426,322 |
| 11 |
$710,993 |
$223,398
$41,949 |
$445,646 |
| 12 |
$746,547 |
$236,553
$44,046 |
$465,948 |
| 13 |
$783,870 |
$250,362
$46,248 |
$487,260 |
| 14 |
$823,078 |
$264,869
$48,562 |
$509,647 |
| 15 |
$864,229 |
$280,095
$50,990 |
$533,144 |
| 16 |
$907,439 |
$296,083
$53,539 |
$557,817 |
| 17 |
$952,795 |
$312,865
$56,215 |
$583,715 |
| 18 |
$1,000,442 |
$330,494
$59,026 |
$610,922 |
| 19 |
$1,050,467 |
$349,003
$61,978 |
$639,486 |
| 20 |
$1,102,986 |
$368,435
$65,076 |
$669,475 |
| 21 |
$1,158,144 |
$388,844
$68,330 |
$700,970 |
| 22 |
$1,216,057 |
$410,271
$71,747 |
$734,039 |
| 23 |
$1,276,841 |
$432,762
$75,334 |
$768,745 |
| 24 |
$1,340,699 |
$456,389
$79,101 |
$805,209 |
| 25 |
$1,407,718 |
$481,186
$83,055 |
$843,477 |
| 26 |
$1,478,130 |
$507,238
$87,210 |
$883,682 |
| 27 |
$1,552,022 |
$534,579
$91,569 |
$925,874 |
| 28 |
$1,629,626 |
$563,292
$96,148 |
$970,186 |
| 29 |
$1,711,116 |
$593,443
$100,956 |
$1,016,717 |
| 30 |
$1,796,666 |
$625,097
$106,003 |
$1,065,566 |
|
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