Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Oct 24, 2026 is estimated to be $674 Million, with a cash option of 283.9 Million. If you win the Powerball 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 Powerball Jackpot/Cash Option for Sat Oct 24, 2026

Draw Date	Jackpot	Cash Option
Sat Oct 24, 2026	$674,000,000	$283,900,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$283,900,000
Federal Tax(24%)	$68,136,000
Additional Federal Tax	$36,867,330
State Tax(5.99%)	$17,005,610
Net Lumpsum Payment	$161,891,060

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$10,144,374	-$3,713,749 -$607,648	$5,822,977
2	$10,651,896	-$3,901,532 -$638,049	$6,112,315
3	$11,184,356	-$4,098,542 -$669,943	$6,415,871
4	$11,743,776	-$4,305,528 -$703,452	$6,734,796
5	$12,330,830	-$4,522,737 -$738,617	$7,069,476
6	$12,947,540	-$4,750,920 -$775,558	$7,421,062
7	$13,594,580	-$4,990,325 -$814,315	$7,789,940
8	$14,274,646	-$5,241,949 -$855,051	$8,177,646
9	$14,988,412	-$5,506,043 -$897,806	$8,584,563
10	$15,737,900	-$5,783,353 -$942,700	$9,011,847
11	$16,524,458	-$6,074,380 -$989,815	$9,460,263
12	$17,350,782	-$6,380,120 -$1,039,312	$9,931,350
13	$18,218,220	-$6,701,072 -$1,091,271	$10,425,877
14	$19,129,468	-$7,038,234 -$1,145,855	$10,945,379
15	$20,085,874	-$7,392,104 -$1,203,144	$11,490,626
16	$21,090,134	-$7,763,680 -$1,263,299	$12,063,155
17	$22,144,270	-$8,153,710 -$1,326,442	$12,664,118
18	$23,251,652	-$8,563,442 -$1,392,774	$13,295,436
19	$24,414,302	-$8,993,622 -$1,462,417	$13,958,263
20	$25,634,916	-$9,445,249 -$1,535,531	$14,654,136
21	$26,916,864	-$9,919,570 -$1,612,320	$15,384,974
22	$28,262,842	-$10,417,582 -$1,692,944	$16,152,316
23	$29,675,546	-$10,940,282 -$1,777,565	$16,957,699
24	$31,159,694	-$11,489,417 -$1,866,466	$17,803,811
25	$32,717,308	-$12,065,734 -$1,959,767	$18,691,807
26	$34,353,780	-$12,671,229 -$2,057,791	$19,624,760
27	$36,071,132	-$13,306,649 -$2,160,661	$20,603,822
28	$37,874,756	-$13,973,990 -$2,268,698	$21,632,068
29	$39,768,696	-$14,674,748 -$2,382,145	$22,711,803
30	$41,756,996	-$15,410,419 -$2,501,244	$23,845,333