The jackpot for the MEGA Millions draw on Fri Mar 14, 2025, is projected to be $277 Million, with an option for a cash payout of $129.5 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 Mar 14, 2025 |
|---|
| Draw Date | Fri Mar 14, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $129,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $129,500,000 | | Federal Tax(24%) | $31,080,000 | | Additional Federal Tax | $16,795,330 | | State Tax(5.9%) | $7,640,500 | | Net Lumpsum Payment | $73,984,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$245,978 |
$2,420,242 |
| 2 |
$4,377,708 |
$1,580,082
$258,285 |
$2,539,341 |
| 3 |
$4,596,538 |
$1,661,049
$271,196 |
$2,664,293 |
| 4 |
$4,826,448 |
$1,746,116
$284,760 |
$2,795,572 |
| 5 |
$5,067,715 |
$1,835,385
$298,995 |
$2,933,335 |
| 6 |
$5,321,170 |
$1,929,163
$313,949 |
$3,078,058 |
| 7 |
$5,587,090 |
$2,027,554
$329,638 |
$3,229,898 |
| 8 |
$5,866,583 |
$2,130,966
$346,128 |
$3,389,489 |
| 9 |
$6,159,926 |
$2,239,503
$363,436 |
$3,556,987 |
| 10 |
$6,467,950 |
$2,353,472
$381,609 |
$3,732,869 |
| 11 |
$6,791,209 |
$2,473,078
$400,681 |
$3,917,450 |
| 12 |
$7,130,811 |
$2,598,730
$420,718 |
$4,111,363 |
| 13 |
$7,487,310 |
$2,730,635
$441,751 |
$4,314,924 |
| 14 |
$7,861,814 |
$2,869,202
$463,847 |
$4,528,765 |
| 15 |
$8,254,877 |
$3,014,635
$487,038 |
$4,753,204 |
| 16 |
$8,667,607 |
$3,167,345
$511,389 |
$4,988,873 |
| 17 |
$9,100,835 |
$3,327,639
$536,949 |
$5,236,247 |
| 18 |
$9,555,946 |
$3,496,030
$563,801 |
$5,496,115 |
| 19 |
$10,033,771 |
$3,672,826
$591,992 |
$5,768,953 |
| 20 |
$10,535,418 |
$3,858,435
$621,590 |
$6,055,393 |
| 21 |
$11,062,272 |
$4,053,371
$652,674 |
$6,356,227 |
| 22 |
$11,615,441 |
$4,258,044
$685,311 |
$6,672,086 |
| 23 |
$12,196,033 |
$4,472,863
$719,566 |
$7,003,604 |
| 24 |
$12,805,987 |
$4,698,546
$755,553 |
$7,351,888 |
| 25 |
$13,446,134 |
$4,935,400
$793,322 |
$7,717,412 |
| 26 |
$14,118,690 |
$5,184,246
$833,003 |
$8,101,441 |
| 27 |
$14,824,486 |
$5,445,390
$874,645 |
$8,504,451 |
| 28 |
$15,565,738 |
$5,719,653
$918,379 |
$8,927,706 |
| 29 |
$16,344,108 |
$6,007,650
$964,302 |
$9,372,156 |
| 30 |
$17,161,258 |
$6,309,996
$1,012,514 |
$9,838,748 |
|
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