The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(5.9%) | $1,876,200 | | Net Lumpsum Payment | $18,197,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$62,161 |
$641,258 |
| 2 |
$1,106,280 |
$369,654
$65,271 |
$671,355 |
| 3 |
$1,161,580 |
$390,115
$68,533 |
$702,932 |
| 4 |
$1,219,680 |
$411,612
$71,961 |
$736,107 |
| 5 |
$1,280,650 |
$434,171
$75,558 |
$770,921 |
| 6 |
$1,344,700 |
$457,869
$79,337 |
$807,494 |
| 7 |
$1,411,900 |
$482,733
$83,302 |
$845,865 |
| 8 |
$1,482,530 |
$508,866
$87,469 |
$886,195 |
| 9 |
$1,556,660 |
$536,295
$91,843 |
$928,522 |
| 10 |
$1,634,500 |
$565,095
$96,436 |
$972,969 |
| 11 |
$1,716,190 |
$595,321
$101,255 |
$1,019,614 |
| 12 |
$1,802,010 |
$627,074
$106,319 |
$1,068,617 |
| 13 |
$1,892,100 |
$660,407
$111,634 |
$1,120,059 |
| 14 |
$1,986,740 |
$695,424
$117,218 |
$1,174,098 |
| 15 |
$2,086,070 |
$732,176
$123,078 |
$1,230,816 |
| 16 |
$2,190,370 |
$770,767
$129,232 |
$1,290,371 |
| 17 |
$2,299,850 |
$811,275
$135,691 |
$1,352,884 |
| 18 |
$2,414,860 |
$853,829
$142,477 |
$1,418,554 |
| 19 |
$2,535,610 |
$898,506
$149,601 |
$1,487,503 |
| 20 |
$2,662,380 |
$945,411
$157,080 |
$1,559,889 |
| 21 |
$2,795,520 |
$994,673
$164,936 |
$1,635,911 |
| 22 |
$2,935,310 |
$1,046,395
$173,183 |
$1,715,732 |
| 23 |
$3,082,030 |
$1,100,681
$181,840 |
$1,799,509 |
| 24 |
$3,236,170 |
$1,157,713
$190,934 |
$1,887,523 |
| 25 |
$3,397,940 |
$1,217,568
$200,478 |
$1,979,894 |
| 26 |
$3,567,900 |
$1,280,453
$210,506 |
$2,076,941 |
| 27 |
$3,746,260 |
$1,346,447
$221,029 |
$2,178,784 |
| 28 |
$3,933,580 |
$1,415,755
$232,081 |
$2,285,744 |
| 29 |
$4,130,280 |
$1,488,534
$243,687 |
$2,398,059 |
| 30 |
$4,336,780 |
$1,564,939
$255,870 |
$2,515,971 |
|
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