Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Wed Aug 5, 2026 is estimated to be $786 Million, with a cash option of 341.6 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 Wed Aug 5, 2026

Draw Date	Jackpot	Cash Option
Wed Aug 5, 2026	$786,000,000	$341,600,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$341,600,000
Federal Tax(24%)	$81,984,000
Additional Federal Tax	$44,368,330
State Tax(5.99%)	$20,461,840
Net Lumpsum Payment	$194,785,830

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,830,086	-$4,337,462 -$708,622	$6,784,002
2	$12,421,944	-$4,556,450 -$744,074	$7,121,420
3	$13,042,884	-$4,786,197 -$781,269	$7,475,418
4	$13,695,264	-$5,027,578 -$820,346	$7,847,340
5	$14,379,870	-$5,280,882 -$861,354	$8,237,634
6	$15,099,060	-$5,546,983 -$904,434	$8,647,643
7	$15,853,620	-$5,826,170 -$949,632	$9,077,818
8	$16,646,694	-$6,119,607 -$997,137	$9,529,950
9	$17,479,068	-$6,427,586 -$1,046,996	$10,004,486
10	$18,353,100	-$6,750,977 -$1,099,351	$10,502,772
11	$19,270,362	-$7,090,364 -$1,154,295	$11,025,703
12	$20,233,998	-$7,446,910 -$1,212,016	$11,575,072
13	$21,245,580	-$7,821,195 -$1,272,610	$12,151,775
14	$22,308,252	-$8,214,384 -$1,336,264	$12,757,604
15	$23,423,586	-$8,627,057 -$1,403,073	$13,393,456
16	$24,594,726	-$9,060,379 -$1,473,224	$14,061,123
17	$25,824,030	-$9,515,221 -$1,546,859	$14,761,950
18	$27,115,428	-$9,993,039 -$1,624,214	$15,498,175
19	$28,471,278	-$10,494,703 -$1,705,430	$16,271,145
20	$29,894,724	-$11,021,378 -$1,790,694	$17,082,652
21	$31,389,696	-$11,574,518 -$1,880,243	$17,934,935
22	$32,959,338	-$12,155,285 -$1,974,264	$18,829,789
23	$34,606,794	-$12,764,844 -$2,072,947	$19,769,003
24	$36,337,566	-$13,405,230 -$2,176,620	$20,755,716
25	$38,154,012	-$14,077,315 -$2,285,425	$21,791,272
26	$40,062,420	-$14,783,426 -$2,399,739	$22,879,255
27	$42,065,148	-$15,524,435 -$2,519,702	$24,021,011
28	$44,168,484	-$16,302,669 -$2,645,692	$25,220,123
29	$46,377,144	-$17,119,874 -$2,777,991	$26,479,279
30	$48,695,844	-$17,977,793 -$2,916,881	$27,801,170