Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Jun 16, 2025 is estimated to be $90 Million, with a cash option of 40.7 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 Jun 16, 2025

Draw Date	Jackpot	Cash Option
Mon Jun 16, 2025	$90,000,000	$40,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$40,700,000
Federal Tax(24%)	$9,768,000
Additional Federal Tax	$5,251,330
State Tax(5.99%)	$2,437,930
Net Lumpsum Payment	$23,242,740

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,354,590	-$461,529 -$81,140	$811,921
2	$1,422,360	-$486,604 -$85,199	$850,557
3	$1,493,460	-$512,911 -$89,458	$891,091
4	$1,568,160	-$540,550 -$93,933	$933,677
5	$1,646,550	-$569,554 -$98,628	$978,368
6	$1,728,900	-$600,023 -$103,561	$1,025,316
7	$1,815,300	-$631,991 -$108,736	$1,074,573
8	$1,906,110	-$665,591 -$114,176	$1,126,343
9	$2,001,420	-$700,856 -$119,885	$1,180,679
10	$2,101,500	-$737,885 -$125,880	$1,237,735
11	$2,206,530	-$776,746 -$132,171	$1,297,613
12	$2,316,870	-$817,572 -$138,781	$1,360,517
13	$2,432,700	-$860,429 -$145,719	$1,426,552
14	$2,554,380	-$905,451 -$153,007	$1,495,922
15	$2,682,090	-$952,704 -$160,657	$1,568,729
16	$2,816,190	-$1,002,321 -$168,690	$1,645,179
17	$2,956,950	-$1,054,402 -$177,121	$1,725,427
18	$3,104,820	-$1,109,114 -$185,979	$1,809,727
19	$3,260,070	-$1,166,556 -$195,278	$1,898,236
20	$3,423,060	-$1,226,863 -$205,041	$1,991,156
21	$3,594,240	-$1,290,199 -$215,295	$2,088,746
22	$3,773,970	-$1,356,699 -$226,061	$2,191,210
23	$3,962,610	-$1,426,496 -$237,360	$2,298,754
24	$4,160,790	-$1,499,823 -$249,231	$2,411,736
25	$4,368,780	-$1,576,779 -$261,690	$2,530,311
26	$4,587,300	-$1,657,631 -$274,779	$2,654,890
27	$4,816,620	-$1,742,480 -$288,516	$2,785,624
28	$5,057,460	-$1,831,591 -$302,942	$2,922,927
29	$5,310,360	-$1,925,164 -$318,091	$3,067,105
30	$5,575,860	-$2,023,399 -$333,994	$3,218,467