Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue May 12, 2026 is estimated to be $232 Million, with a cash option of 103.8 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of Rhode Island, your state will take 5.99% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Rhode Island MEGA Millions Jackpot/Cash Option for Tue May 12, 2026

Draw Date	Jackpot	Cash Option
Tue May 12, 2026	$232,000,000	$103,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$103,800,000
Federal Tax(24%)	$24,912,000
Additional Federal Tax	$13,454,330
State Tax(5.99%)	$6,217,620
Net Lumpsum Payment	$59,216,050

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,491,832	-$1,252,308 -$209,161	$2,030,363
2	$3,666,528	-$1,316,946 -$219,625	$2,129,957
3	$3,849,808	-$1,384,759 -$230,603	$2,234,446
4	$4,042,368	-$1,456,007 -$242,138	$2,344,223
5	$4,244,440	-$1,530,773 -$254,242	$2,459,425
6	$4,456,720	-$1,609,317 -$266,958	$2,580,445
7	$4,679,440	-$1,691,723 -$280,298	$2,707,419
8	$4,913,528	-$1,778,336 -$294,320	$2,840,872
9	$5,159,216	-$1,869,240 -$309,037	$2,980,939
10	$5,417,200	-$1,964,694 -$324,490	$3,128,016
11	$5,687,944	-$2,064,870 -$340,708	$3,282,366
12	$5,972,376	-$2,170,110 -$357,745	$3,444,521
13	$6,270,960	-$2,280,586 -$375,631	$3,614,743
14	$6,584,624	-$2,396,641 -$394,419	$3,793,564
15	$6,913,832	-$2,518,448 -$414,139	$3,981,245
16	$7,259,512	-$2,646,350 -$434,845	$4,178,317
17	$7,622,360	-$2,780,604 -$456,579	$4,385,177
18	$8,003,536	-$2,921,639 -$479,412	$4,602,485
19	$8,403,736	-$3,069,713 -$503,384	$4,830,639
20	$8,823,888	-$3,225,169 -$528,551	$5,070,168
21	$9,265,152	-$3,388,437 -$554,983	$5,321,732
22	$9,728,456	-$3,559,859 -$582,735	$5,585,862
23	$10,214,728	-$3,739,780 -$611,862	$5,863,086
24	$10,725,592	-$3,928,799 -$642,463	$6,154,330
25	$11,261,744	-$4,127,176 -$674,578	$6,459,990
26	$11,825,040	-$4,335,595 -$708,320	$6,781,125
27	$12,416,176	-$4,554,316 -$743,729	$7,118,131
28	$13,037,008	-$4,784,023 -$780,917	$7,472,068
29	$13,688,928	-$5,025,234 -$819,967	$7,843,727
30	$14,373,328	-$5,278,462 -$860,962	$8,233,904