Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 5, 2025 is estimated to be $150 Million, with a cash option of 67.9 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 5, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 5, 2025	$150,000,000	$67,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$67,900,000
Federal Tax(24%)	$16,296,000
Additional Federal Tax	$8,787,330
State Tax(5.99%)	$4,067,210
Net Lumpsum Payment	$38,749,460

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$2,257,650	-$795,661 -$135,233	$1,326,756
2	$2,370,600	-$837,452 -$141,999	$1,391,149
3	$2,489,100	-$881,297 -$149,097	$1,458,706
4	$2,613,600	-$927,362 -$156,555	$1,529,683
5	$2,744,250	-$975,703 -$164,381	$1,604,166
6	$2,881,500	-$1,026,485 -$172,602	$1,682,413
7	$3,025,500	-$1,079,765 -$181,227	$1,764,508
8	$3,176,850	-$1,135,765 -$190,293	$1,850,792
9	$3,335,700	-$1,194,539 -$199,808	$1,941,353
10	$3,502,500	-$1,256,255 -$209,800	$2,036,445
11	$3,677,550	-$1,321,024 -$220,285	$2,136,241
12	$3,861,450	-$1,389,067 -$231,301	$2,241,082
13	$4,054,500	-$1,460,495 -$242,865	$2,351,140
14	$4,257,300	-$1,535,531 -$255,012	$2,466,757
15	$4,470,150	-$1,614,286 -$267,762	$2,588,102
16	$4,693,650	-$1,696,981 -$281,150	$2,715,519
17	$4,928,250	-$1,783,783 -$295,202	$2,849,265
18	$5,174,700	-$1,874,969 -$309,965	$2,989,766
19	$5,433,450	-$1,970,707 -$325,464	$3,137,279
20	$5,705,100	-$2,071,217 -$341,735	$3,292,148
21	$5,990,400	-$2,176,778 -$358,825	$3,454,797
22	$6,289,950	-$2,287,612 -$376,768	$3,625,570
23	$6,604,350	-$2,403,940 -$395,601	$3,804,809
24	$6,934,650	-$2,526,151 -$415,386	$3,993,113
25	$7,281,300	-$2,654,411 -$436,150	$4,190,739
26	$7,645,500	-$2,789,165 -$457,965	$4,398,370
27	$8,027,700	-$2,930,579 -$480,859	$4,616,262
28	$8,429,100	-$3,079,097 -$504,903	$4,845,100
29	$8,850,600	-$3,235,052 -$530,151	$5,085,397
30	$9,293,100	-$3,398,777 -$556,657	$5,337,666