Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Jun 17, 2025 is estimated to be $280 Million, with a cash option of 126.1 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 Jun 17, 2025

Draw Date	Jackpot	Cash Option
Tue Jun 17, 2025	$280,000,000	$126,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$126,100,000
Federal Tax(24%)	$30,264,000
Additional Federal Tax	$16,353,330
State Tax(5.99%)	$7,553,390
Net Lumpsum Payment	$71,929,280

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$4,214,280	-$1,519,614 -$252,435	$2,442,231
2	$4,425,120	-$1,597,625 -$265,065	$2,562,430
3	$4,646,320	-$1,679,469 -$278,315	$2,688,536
4	$4,878,720	-$1,765,457 -$292,235	$2,821,028
5	$5,122,600	-$1,855,692 -$306,844	$2,960,064
6	$5,378,800	-$1,950,486 -$322,190	$3,106,124
7	$5,647,600	-$2,049,942 -$338,291	$3,259,367
8	$5,930,120	-$2,154,475 -$355,214	$3,420,431
9	$6,226,640	-$2,264,187 -$372,976	$3,589,477
10	$6,538,000	-$2,379,390 -$391,626	$3,766,984
11	$6,864,760	-$2,500,292 -$411,199	$3,953,269
12	$7,208,040	-$2,627,305 -$431,762	$4,148,973
13	$7,568,400	-$2,760,638 -$453,347	$4,354,415
14	$7,946,960	-$2,900,706 -$476,023	$4,570,231
15	$8,344,280	-$3,047,714 -$499,822	$4,796,744
16	$8,761,480	-$3,202,078 -$524,813	$5,034,589
17	$9,199,400	-$3,364,108 -$551,044	$5,284,248
18	$9,659,440	-$3,534,323 -$578,600	$5,546,517
19	$10,142,440	-$3,713,033 -$607,532	$5,821,875
20	$10,649,520	-$3,900,653 -$637,906	$6,110,961
21	$11,182,080	-$4,097,700 -$669,807	$6,414,573
22	$11,741,240	-$4,304,589 -$703,300	$6,733,351
23	$12,328,120	-$4,521,735 -$738,454	$7,067,931
24	$12,944,680	-$4,749,862 -$775,386	$7,419,432
25	$13,591,760	-$4,989,282 -$814,146	$7,788,332
26	$14,271,600	-$5,240,822 -$854,869	$8,175,909
27	$14,985,040	-$5,504,795 -$897,604	$8,582,641
28	$15,734,320	-$5,782,029 -$942,486	$9,009,805
29	$16,521,120	-$6,073,145 -$989,615	$9,458,360
30	$17,347,120	-$6,378,765 -$1,039,092	$9,929,263