The jackpot for the MEGA Millions draw on Fri Feb 20, 2026, is projected to be $416 Million, with an option for a cash payout of $193.1 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 Fri Feb 20, 2026 |
|---|
| Draw Date | Fri Feb 20, 2026 | | Projected Jackpot | $416,000,000 | | Cash Value | $193,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $193,100,000 | | Federal Tax(24%) | $46,344,000 | | Additional Federal Tax | $25,063,330 | | State Tax(5.9%) | $11,392,900 | | Net Lumpsum Payment | $110,299,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,261,216 |
$2,276,980
$369,412 |
$3,614,824 |
| 2 |
$6,574,464 |
$2,392,882
$387,893 |
$3,793,689 |
| 3 |
$6,903,104 |
$2,514,479
$407,283 |
$3,981,342 |
| 4 |
$7,248,384 |
$2,642,232
$427,655 |
$4,178,497 |
| 5 |
$7,610,720 |
$2,776,297
$449,032 |
$4,385,391 |
| 6 |
$7,991,360 |
$2,917,134
$471,490 |
$4,602,736 |
| 7 |
$8,390,720 |
$3,064,897
$495,052 |
$4,830,771 |
| 8 |
$8,810,464 |
$3,220,202
$519,817 |
$5,070,445 |
| 9 |
$9,251,008 |
$3,383,203
$545,809 |
$5,321,996 |
| 10 |
$9,713,600 |
$3,554,362
$573,102 |
$5,586,136 |
| 11 |
$10,199,072 |
$3,733,987
$601,745 |
$5,863,340 |
| 12 |
$10,709,088 |
$3,922,693
$631,836 |
$6,154,559 |
| 13 |
$11,244,480 |
$4,120,788
$663,424 |
$6,460,268 |
| 14 |
$11,806,912 |
$4,328,888
$696,608 |
$6,781,416 |
| 15 |
$12,397,216 |
$4,547,300
$731,436 |
$7,118,480 |
| 16 |
$13,017,056 |
$4,776,641
$768,006 |
$7,472,409 |
| 17 |
$13,667,680 |
$5,017,372
$806,393 |
$7,843,915 |
| 18 |
$14,351,168 |
$5,270,263
$846,719 |
$8,234,186 |
| 19 |
$15,068,768 |
$5,535,775
$889,057 |
$8,643,936 |
| 20 |
$15,822,144 |
$5,814,524
$933,506 |
$9,074,114 |
| 21 |
$16,613,376 |
$6,107,280
$980,189 |
$9,525,907 |
| 22 |
$17,444,128 |
$6,414,658
$1,029,204 |
$10,000,266 |
| 23 |
$18,316,064 |
$6,737,274
$1,080,648 |
$10,498,142 |
| 24 |
$19,232,096 |
$7,076,206
$1,134,694 |
$11,021,196 |
| 25 |
$20,193,472 |
$7,431,915
$1,191,415 |
$11,570,142 |
| 26 |
$21,203,520 |
$7,805,633
$1,251,008 |
$12,146,879 |
| 27 |
$22,263,488 |
$8,197,821
$1,313,546 |
$12,752,121 |
| 28 |
$23,376,704 |
$8,609,711
$1,379,226 |
$13,387,767 |
| 29 |
$24,545,664 |
$9,042,226
$1,448,194 |
$14,055,244 |
| 30 |
$25,772,864 |
$9,496,290
$1,520,599 |
$14,755,975 |
|
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