Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 29, 2025 is estimated to be $70 Million, with a cash option of 31.8 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 Apr 29, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 29, 2025	$70,000,000	$31,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$31,800,000
Federal Tax(24%)	$7,632,000
Additional Federal Tax	$4,094,330
State Tax(5.99%)	$1,904,820
Net Lumpsum Payment	$18,168,850

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,053,570	-$350,151 -$63,109	$640,310
2	$1,106,280	-$369,654 -$66,266	$670,360
3	$1,161,580	-$390,115 -$69,579	$701,886
4	$1,219,680	-$411,612 -$73,059	$735,009
5	$1,280,650	-$434,171 -$76,711	$769,768
6	$1,344,700	-$457,869 -$80,548	$806,283
7	$1,411,900	-$482,733 -$84,573	$844,594
8	$1,482,530	-$508,866 -$88,804	$884,860
9	$1,556,660	-$536,295 -$93,244	$927,121
10	$1,634,500	-$565,095 -$97,907	$971,498
11	$1,716,190	-$595,321 -$102,800	$1,018,069
12	$1,802,010	-$627,074 -$107,940	$1,066,996
13	$1,892,100	-$660,407 -$113,337	$1,118,356
14	$1,986,740	-$695,424 -$119,006	$1,172,310
15	$2,086,070	-$732,176 -$124,956	$1,228,938
16	$2,190,370	-$770,767 -$131,203	$1,288,400
17	$2,299,850	-$811,275 -$137,761	$1,350,814
18	$2,414,860	-$853,829 -$144,650	$1,416,381
19	$2,535,610	-$898,506 -$151,883	$1,485,221
20	$2,662,380	-$945,411 -$159,477	$1,557,492
21	$2,795,520	-$994,673 -$167,452	$1,633,395
22	$2,935,310	-$1,046,395 -$175,825	$1,713,090
23	$3,082,030	-$1,100,681 -$184,614	$1,796,735
24	$3,236,170	-$1,157,713 -$193,847	$1,884,610
25	$3,397,940	-$1,217,568 -$203,537	$1,976,835
26	$3,567,900	-$1,280,453 -$213,717	$2,073,730
27	$3,746,260	-$1,346,447 -$224,401	$2,175,412
28	$3,933,580	-$1,415,755 -$235,621	$2,282,204
29	$4,130,280	-$1,488,534 -$247,404	$2,394,342
30	$4,336,780	-$1,564,939 -$259,773	$2,512,068