The jackpot for the MEGA Millions draw on Tue Oct 28, 2025, is projected to be $714 Million, with an option for a cash payout of $334.1 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 Tue Oct 28, 2025 |
|---|
| Draw Date | Tue Oct 28, 2025 | | Projected Jackpot | $714,000,000 | | Cash Value | $334,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $334,100,000 | | Federal Tax(24%) | $80,184,000 | | Additional Federal Tax | $43,393,330 | | State Tax(5.9%) | $19,711,900 | | Net Lumpsum Payment | $190,810,770 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,746,414 |
$3,936,504
$634,038 |
$6,175,872 |
| 2 |
$11,284,056 |
$4,135,431
$665,759 |
$6,482,866 |
| 3 |
$11,848,116 |
$4,344,133
$699,039 |
$6,804,944 |
| 4 |
$12,440,736 |
$4,563,403
$734,003 |
$7,143,330 |
| 5 |
$13,062,630 |
$4,793,503
$770,695 |
$7,498,432 |
| 6 |
$13,715,940 |
$5,035,228
$809,240 |
$7,871,472 |
| 7 |
$14,401,380 |
$5,288,841
$849,681 |
$8,262,858 |
| 8 |
$15,121,806 |
$5,555,399
$892,187 |
$8,674,220 |
| 9 |
$15,877,932 |
$5,835,165
$936,798 |
$9,105,969 |
| 10 |
$16,671,900 |
$6,128,933
$983,642 |
$9,559,325 |
| 11 |
$17,505,138 |
$6,437,231
$1,032,803 |
$10,035,104 |
| 12 |
$18,380,502 |
$6,761,116
$1,084,450 |
$10,534,936 |
| 13 |
$19,299,420 |
$7,101,116
$1,138,666 |
$11,059,638 |
| 14 |
$20,264,748 |
$7,458,287
$1,195,620 |
$11,610,841 |
| 15 |
$21,277,914 |
$7,833,159
$1,255,397 |
$12,189,358 |
| 16 |
$22,341,774 |
$8,226,787
$1,318,165 |
$12,796,822 |
| 17 |
$23,458,470 |
$8,639,964
$1,384,050 |
$13,434,456 |
| 18 |
$24,631,572 |
$9,074,012
$1,453,263 |
$14,104,297 |
| 19 |
$25,863,222 |
$9,529,723
$1,525,930 |
$14,807,569 |
| 20 |
$27,156,276 |
$10,008,153
$1,602,220 |
$15,545,903 |
| 21 |
$28,514,304 |
$10,510,623
$1,682,344 |
$16,321,337 |
| 22 |
$29,940,162 |
$11,038,190
$1,766,470 |
$17,135,502 |
| 23 |
$31,436,706 |
$11,591,912
$1,854,766 |
$17,990,028 |
| 24 |
$33,008,934 |
$12,173,636
$1,947,527 |
$18,887,771 |
| 25 |
$34,658,988 |
$12,784,156
$2,044,880 |
$19,829,952 |
| 26 |
$36,392,580 |
$13,425,585
$2,147,162 |
$20,819,833 |
| 27 |
$38,211,852 |
$14,098,716
$2,254,499 |
$21,858,637 |
| 28 |
$40,122,516 |
$14,805,661
$2,367,228 |
$22,949,627 |
| 29 |
$42,128,856 |
$15,548,007
$2,485,603 |
$24,095,246 |
| 30 |
$44,235,156 |
$16,327,338
$2,609,874 |
$25,297,944 |
|
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