Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Mar 10, 2025 is estimated to be $335 Million, with a cash option of 157.3 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 Mon Mar 10, 2025

Draw Date	Jackpot	Cash Option
Mon Mar 10, 2025	$335,000,000	$157,300,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$157,300,000
Federal Tax(24%)	$37,752,000
Additional Federal Tax	$20,409,330
State Tax(5.99%)	$9,422,270
Net Lumpsum Payment	$89,716,400

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,042,085	-$1,825,902 -$302,021	$2,914,162
2	$5,294,340	-$1,919,236 -$317,131	$3,057,973
3	$5,558,990	-$2,017,157 -$332,984	$3,208,849
4	$5,837,040	-$2,120,035 -$349,639	$3,367,366
5	$6,128,825	-$2,227,996 -$367,117	$3,533,712
6	$6,435,350	-$2,341,410 -$385,477	$3,708,463
7	$6,756,950	-$2,460,402 -$404,741	$3,891,807
8	$7,094,965	-$2,585,467 -$424,988	$4,084,510
9	$7,449,730	-$2,716,730 -$446,239	$4,286,761
10	$7,822,250	-$2,854,563 -$468,553	$4,499,134
11	$8,213,195	-$2,999,213 -$491,970	$4,722,012
12	$8,623,905	-$3,151,175 -$516,572	$4,956,158
13	$9,055,050	-$3,310,699 -$542,397	$5,201,954
14	$9,507,970	-$3,478,279 -$569,527	$5,460,164
15	$9,983,335	-$3,654,164 -$598,002	$5,731,169
16	$10,482,485	-$3,838,850 -$627,901	$6,015,734
17	$11,006,425	-$4,032,708 -$659,285	$6,314,432
18	$11,556,830	-$4,236,357 -$692,254	$6,628,219
19	$12,134,705	-$4,450,171 -$726,869	$6,957,665
20	$12,741,390	-$4,674,645 -$763,209	$7,303,536
21	$13,378,560	-$4,910,398 -$801,376	$7,666,786
22	$14,047,555	-$5,157,926 -$841,449	$8,048,180
23	$14,749,715	-$5,417,725 -$883,508	$8,448,482
24	$15,487,385	-$5,690,663 -$927,694	$8,869,028
25	$16,261,570	-$5,977,111 -$974,068	$9,310,391
26	$17,074,950	-$6,278,062 -$1,022,790	$9,774,098
27	$17,928,530	-$6,593,886 -$1,073,919	$10,260,725
28	$18,824,990	-$6,925,577 -$1,127,617	$10,771,796
29	$19,766,340	-$7,273,876 -$1,184,004	$11,308,460
30	$20,754,590	-$7,639,529 -$1,243,200	$11,871,861