The jackpot for the Powerball draw on Wed Oct 29, 2025, is projected to be $376 Million, with an option for a cash payout of $179.3 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 Oct 29, 2025 |
|---|
| Draw Date | Wed Oct 29, 2025 | | Projected Jackpot | $376,000,000 | | Cash Value | $179,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $179,300,000 | | Federal Tax(24%) | $43,032,000 | | Additional Federal Tax | $23,269,330 | | State Tax(5.9%) | $10,578,700 | | Net Lumpsum Payment | $102,419,970 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,659,176 |
$2,054,226
$333,891 |
$3,271,059 |
| 2 |
$5,942,304 |
$2,158,983
$350,596 |
$3,432,725 |
| 3 |
$6,239,344 |
$2,268,888
$368,121 |
$3,602,335 |
| 4 |
$6,551,424 |
$2,384,357
$386,534 |
$3,780,533 |
| 5 |
$6,878,920 |
$2,505,531
$405,856 |
$3,967,533 |
| 6 |
$7,222,960 |
$2,632,826
$426,155 |
$4,163,979 |
| 7 |
$7,583,920 |
$2,766,381
$447,451 |
$4,370,088 |
| 8 |
$7,963,304 |
$2,906,753
$469,835 |
$4,586,716 |
| 9 |
$8,361,488 |
$3,054,081
$493,328 |
$4,814,079 |
| 10 |
$8,779,600 |
$3,208,782
$517,996 |
$5,052,822 |
| 11 |
$9,218,392 |
$3,371,135
$543,885 |
$5,303,372 |
| 12 |
$9,679,368 |
$3,541,697
$571,083 |
$5,566,588 |
| 13 |
$10,163,280 |
$3,720,744
$599,634 |
$5,842,902 |
| 14 |
$10,671,632 |
$3,908,834
$629,626 |
$6,133,172 |
| 15 |
$11,205,176 |
$4,106,246
$661,105 |
$6,437,825 |
| 16 |
$11,765,416 |
$4,313,534
$694,160 |
$6,757,722 |
| 17 |
$12,353,480 |
$4,531,118
$728,855 |
$7,093,507 |
| 18 |
$12,971,248 |
$4,759,692
$765,304 |
$7,446,252 |
| 19 |
$13,619,848 |
$4,999,674
$803,571 |
$7,816,603 |
| 20 |
$14,300,784 |
$5,251,620
$843,746 |
$8,205,418 |
| 21 |
$15,015,936 |
$5,516,227
$885,940 |
$8,613,769 |
| 22 |
$15,766,808 |
$5,794,049
$930,242 |
$9,042,517 |
| 23 |
$16,554,904 |
$6,085,645
$976,739 |
$9,492,520 |
| 24 |
$17,382,856 |
$6,391,987
$1,025,589 |
$9,965,280 |
| 25 |
$18,251,792 |
$6,713,493
$1,076,856 |
$10,461,443 |
| 26 |
$19,164,720 |
$7,051,277
$1,130,718 |
$10,982,725 |
| 27 |
$20,122,768 |
$7,405,755
$1,187,243 |
$11,529,770 |
| 28 |
$21,128,944 |
$7,778,040
$1,246,608 |
$12,104,296 |
| 29 |
$22,185,504 |
$8,168,967
$1,308,945 |
$12,707,592 |
| 30 |
$23,294,704 |
$8,579,371
$1,374,388 |
$13,340,945 |
|
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