The jackpot for the Powerball draw on Mon Jun 9, 2025, is projected to be $54 Million, with an option for a cash payout of $24.3 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 Mon Jun 9, 2025 |
| Draw Date |
Mon Jun 9, 2025 |
| Projected Jackpot |
$54,000,000 |
| Cash Value |
$24,300,000 |
| Lumpsum Option Taxes and Payment |
| Cash Gross Payment |
$24,300,000 |
| Federal Tax(24%) |
$5,832,000 |
| Additional Federal Tax |
$3,119,330 |
| State Tax(5.9%) |
$1,433,700 |
| Net Lumpsum Payment |
$13,914,970 |
| Annuity Payment in 30 Installations |
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$812,754 |
$261,049
$47,952 |
$503,753 |
| 2 |
$853,416 |
$276,094
$50,352 |
$526,970 |
| 3 |
$896,076 |
$291,879
$52,868 |
$551,329 |
| 4 |
$940,896 |
$308,462
$55,513 |
$576,921 |
| 5 |
$987,930 |
$325,864
$58,288 |
$603,778 |
| 6 |
$1,037,340 |
$344,146
$61,203 |
$631,991 |
| 7 |
$1,089,180 |
$363,327
$64,262 |
$661,591 |
| 8 |
$1,143,666 |
$383,487
$67,476 |
$692,703 |
| 9 |
$1,200,852 |
$404,646
$70,850 |
$725,356 |
| 10 |
$1,260,900 |
$426,863
$74,393 |
$759,644 |
| 11 |
$1,323,918 |
$450,180
$78,111 |
$795,627 |
| 12 |
$1,390,122 |
$474,676
$82,017 |
$833,429 |
| 13 |
$1,459,620 |
$500,390
$86,118 |
$873,112 |
| 14 |
$1,532,628 |
$527,403
$90,425 |
$914,800 |
| 15 |
$1,609,254 |
$555,754
$94,946 |
$958,554 |
| 16 |
$1,689,714 |
$585,525
$99,693 |
$1,004,496 |
| 17 |
$1,774,170 |
$616,773
$104,676 |
$1,052,721 |
| 18 |
$1,862,892 |
$649,600
$109,911 |
$1,103,381 |
| 19 |
$1,956,042 |
$684,066
$115,406 |
$1,156,570 |
| 20 |
$2,053,836 |
$720,250
$121,176 |
$1,212,410 |
| 21 |
$2,156,544 |
$758,252
$127,236 |
$1,271,056 |
| 22 |
$2,264,382 |
$798,152
$133,599 |
$1,332,631 |
| 23 |
$2,377,566 |
$840,030
$140,276 |
$1,397,260 |
| 24 |
$2,496,474 |
$884,026
$147,292 |
$1,465,156 |
| 25 |
$2,621,268 |
$930,200
$154,655 |
$1,536,413 |
| 26 |
$2,752,380 |
$978,711
$162,390 |
$1,611,279 |
| 27 |
$2,889,972 |
$1,029,620
$170,508 |
$1,689,844 |
| 28 |
$3,034,476 |
$1,083,087
$179,034 |
$1,772,355 |
| 29 |
$3,186,216 |
$1,139,230
$187,987 |
$1,858,999 |
| 30 |
$3,345,516 |
$1,198,171
$197,385 |
$1,949,960 |
|
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