The jackpot for the MEGA Millions draw on Fri May 22, 2026, is projected to be $296 Million, with an option for a cash payout of $128.6 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 May 22, 2026 |
|---|
| Draw Date | Fri May 22, 2026 | | Projected Jackpot | $296,000,000 | | Cash Value | $128,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $128,600,000 | | Federal Tax(24%) | $30,864,000 | | Additional Federal Tax | $16,678,330 | | State Tax(5.9%) | $7,587,400 | | Net Lumpsum Payment | $73,470,270 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,455,096 |
$1,608,716
$262,851 |
$2,583,529 |
| 2 |
$4,677,984 |
$1,691,184
$276,001 |
$2,710,799 |
| 3 |
$4,911,824 |
$1,777,705
$289,798 |
$2,844,321 |
| 4 |
$5,157,504 |
$1,868,607
$304,293 |
$2,984,604 |
| 5 |
$5,415,320 |
$1,963,999
$319,504 |
$3,131,817 |
| 6 |
$5,686,160 |
$2,064,210
$335,483 |
$3,286,467 |
| 7 |
$5,970,320 |
$2,169,349
$352,249 |
$3,448,722 |
| 8 |
$6,268,984 |
$2,279,854
$369,870 |
$3,619,260 |
| 9 |
$6,582,448 |
$2,395,836
$388,364 |
$3,798,248 |
| 10 |
$6,911,600 |
$2,517,622
$407,784 |
$3,986,194 |
| 11 |
$7,257,032 |
$2,645,432
$428,165 |
$4,183,435 |
| 12 |
$7,619,928 |
$2,779,704
$449,576 |
$4,390,648 |
| 13 |
$8,000,880 |
$2,920,656
$472,052 |
$4,608,172 |
| 14 |
$8,401,072 |
$3,068,727
$495,663 |
$4,836,682 |
| 15 |
$8,821,096 |
$3,224,136
$520,445 |
$5,076,515 |
| 16 |
$9,262,136 |
$3,387,321
$546,466 |
$5,328,349 |
| 17 |
$9,725,080 |
$3,558,610
$573,780 |
$5,592,690 |
| 18 |
$10,211,408 |
$3,738,551
$602,473 |
$5,870,384 |
| 19 |
$10,722,008 |
$3,927,473
$632,598 |
$6,161,937 |
| 20 |
$11,258,064 |
$4,125,814
$664,226 |
$6,468,024 |
| 21 |
$11,821,056 |
$4,334,121
$697,442 |
$6,789,493 |
| 22 |
$12,412,168 |
$4,552,833
$732,318 |
$7,127,017 |
| 23 |
$13,032,584 |
$4,782,386
$768,922 |
$7,481,276 |
| 24 |
$13,684,376 |
$5,023,550
$807,378 |
$7,853,448 |
| 25 |
$14,368,432 |
$5,276,650
$847,737 |
$8,244,045 |
| 26 |
$15,087,120 |
$5,542,565
$890,140 |
$8,654,415 |
| 27 |
$15,841,328 |
$5,821,622
$934,638 |
$9,085,068 |
| 28 |
$16,633,424 |
$6,114,697
$981,372 |
$9,537,355 |
| 29 |
$17,465,184 |
$6,422,448
$1,030,446 |
$10,012,290 |
| 30 |
$18,338,384 |
$6,745,532
$1,081,965 |
$10,510,887 |
|
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