The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 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 Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(5.9%) | $10,702,600 | | Net Lumpsum Payment | $103,619,070 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$343,659 |
$3,365,595 |
| 2 |
$6,116,148 |
$2,223,305
$360,853 |
$3,531,990 |
| 3 |
$6,421,878 |
$2,336,425
$378,891 |
$3,706,562 |
| 4 |
$6,743,088 |
$2,455,273
$397,842 |
$3,889,973 |
| 5 |
$7,080,165 |
$2,579,991
$417,730 |
$4,082,444 |
| 6 |
$7,434,270 |
$2,711,010
$438,622 |
$4,284,638 |
| 7 |
$7,805,790 |
$2,848,473
$460,542 |
$4,496,775 |
| 8 |
$8,196,273 |
$2,992,951
$483,580 |
$4,719,742 |
| 9 |
$8,606,106 |
$3,144,590
$507,760 |
$4,953,756 |
| 10 |
$9,036,450 |
$3,303,817
$533,151 |
$5,199,482 |
| 11 |
$9,488,079 |
$3,470,920
$559,797 |
$5,457,362 |
| 12 |
$9,962,541 |
$3,646,471
$587,790 |
$5,728,280 |
| 13 |
$10,460,610 |
$3,830,756
$617,176 |
$6,012,678 |
| 14 |
$10,983,834 |
$4,024,349
$648,046 |
$6,311,439 |
| 15 |
$11,532,987 |
$4,227,536
$680,446 |
$6,625,005 |
| 16 |
$12,109,617 |
$4,440,889
$714,467 |
$6,954,261 |
| 17 |
$12,714,885 |
$4,664,838
$750,178 |
$7,299,869 |
| 18 |
$13,350,726 |
$4,900,099
$787,693 |
$7,662,934 |
| 19 |
$14,018,301 |
$5,147,102
$827,080 |
$8,044,119 |
| 20 |
$14,719,158 |
$5,406,419
$868,430 |
$8,444,309 |
| 21 |
$15,455,232 |
$5,678,766
$911,859 |
$8,864,607 |
| 22 |
$16,228,071 |
$5,964,717
$957,456 |
$9,305,898 |
| 23 |
$17,039,223 |
$6,264,843
$1,005,314 |
$9,769,066 |
| 24 |
$17,891,397 |
$6,580,147
$1,055,592 |
$10,255,658 |
| 25 |
$18,785,754 |
$6,911,059
$1,108,359 |
$10,766,336 |
| 26 |
$19,725,390 |
$7,258,725
$1,163,798 |
$11,302,867 |
| 27 |
$20,711,466 |
$7,623,573
$1,221,976 |
$11,865,917 |
| 28 |
$21,747,078 |
$8,006,749
$1,283,078 |
$12,457,251 |
| 29 |
$22,834,548 |
$8,409,113
$1,347,238 |
$13,078,197 |
| 30 |
$23,976,198 |
$8,831,524
$1,414,596 |
$13,730,078 |
|
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