Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(5.99%)	$3,324,450
Net Lumpsum Payment	$31,680,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$117,202	$1,155,145
2	$2,054,520	-$720,503 -$123,066	$1,210,951
3	$2,157,220	-$758,502 -$129,217	$1,269,501
4	$2,265,120	-$798,425 -$135,681	$1,331,014
5	$2,378,350	-$840,320 -$142,463	$1,395,567
6	$2,497,300	-$884,331 -$149,588	$1,463,381
7	$2,622,100	-$930,507 -$157,064	$1,534,529
8	$2,753,270	-$979,040 -$164,921	$1,609,309
9	$2,890,940	-$1,029,978 -$173,167	$1,687,795
10	$3,035,500	-$1,083,465 -$181,826	$1,770,209
11	$3,187,210	-$1,139,598 -$190,914	$1,856,698
12	$3,346,590	-$1,198,569 -$200,461	$1,947,560
13	$3,513,900	-$1,260,473 -$210,483	$2,042,944
14	$3,689,660	-$1,325,505 -$221,011	$2,143,144
15	$3,874,130	-$1,393,758 -$232,060	$2,248,312
16	$4,067,830	-$1,465,427 -$243,663	$2,358,740
17	$4,271,150	-$1,540,656 -$255,842	$2,474,652
18	$4,484,740	-$1,619,684 -$268,636	$2,596,420
19	$4,708,990	-$1,702,657 -$282,069	$2,724,264
20	$4,944,420	-$1,789,766 -$296,171	$2,858,483
21	$5,191,680	-$1,881,252 -$310,982	$2,999,446
22	$5,451,290	-$1,977,308 -$326,532	$3,147,450
23	$5,723,770	-$2,078,125 -$342,854	$3,302,791
24	$6,010,030	-$2,184,041 -$360,001	$3,465,988
25	$6,310,460	-$2,295,201 -$377,997	$3,637,262
26	$6,626,100	-$2,411,987 -$396,903	$3,817,210
27	$6,957,340	-$2,534,546 -$416,745	$4,006,049
28	$7,305,220	-$2,663,262 -$437,583	$4,204,375
29	$7,670,520	-$2,798,423 -$459,464	$4,412,633
30	$8,054,020	-$2,940,318 -$482,436	$4,631,266