Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 Aug 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(5.99%)	$1,527,450
Net Lumpsum Payment	$14,577,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$54,093	$554,504
2	$948,240	-$311,179 -$56,800	$580,261
3	$995,640	-$328,717 -$59,639	$607,284
4	$1,045,440	-$347,143 -$62,622	$635,675
5	$1,097,700	-$366,479 -$65,752	$665,469
6	$1,152,600	-$386,792 -$69,041	$696,767
7	$1,210,200	-$408,104 -$72,491	$729,605
8	$1,270,740	-$430,504 -$76,117	$764,119
9	$1,334,280	-$454,014 -$79,923	$800,343
10	$1,401,000	-$478,700 -$83,920	$838,380
11	$1,471,020	-$504,608 -$88,114	$878,298
12	$1,544,580	-$531,825 -$92,520	$920,235
13	$1,621,800	-$560,396 -$97,146	$964,258
14	$1,702,920	-$590,411 -$102,005	$1,010,504
15	$1,788,060	-$621,913 -$107,105	$1,059,042
16	$1,877,460	-$654,991 -$112,460	$1,110,009
17	$1,971,300	-$689,711 -$118,081	$1,163,508
18	$2,069,880	-$726,186 -$123,986	$1,219,708
19	$2,173,380	-$764,481 -$130,185	$1,278,714
20	$2,282,040	-$804,685 -$136,694	$1,340,661
21	$2,396,160	-$846,910 -$143,530	$1,405,720
22	$2,515,980	-$891,243 -$150,707	$1,474,030
23	$2,641,740	-$937,774 -$158,240	$1,545,726
24	$2,773,860	-$986,659 -$166,154	$1,621,047
25	$2,912,520	-$1,037,963 -$174,460	$1,700,097
26	$3,058,200	-$1,091,864 -$183,186	$1,783,150
27	$3,211,080	-$1,148,430 -$192,344	$1,870,306
28	$3,371,640	-$1,207,837 -$201,961	$1,961,842
29	$3,540,240	-$1,270,219 -$212,060	$2,057,961
30	$3,717,240	-$1,335,709 -$222,663	$2,158,868