Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 25, 2026 is estimated to be $130 Million, with a cash option of 55.5 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 MEGA Millions jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Rhode Island MEGA Millions Jackpot/Cash Option for Tue Aug 25, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 25, 2026	$130,000,000	$55,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$55,500,000
Federal Tax(24%)	$13,320,000
Additional Federal Tax	$7,175,330
State Tax(5.99%)	$3,324,450
Net Lumpsum Payment	$31,680,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,956,630	-$684,283 -$117,202	$1,155,145
2	$2,054,520	-$720,503 -$123,066	$1,210,951
3	$2,157,220	-$758,502 -$129,217	$1,269,501
4	$2,265,120	-$798,425 -$135,681	$1,331,014
5	$2,378,350	-$840,320 -$142,463	$1,395,567
6	$2,497,300	-$884,331 -$149,588	$1,463,381
7	$2,622,100	-$930,507 -$157,064	$1,534,529
8	$2,753,270	-$979,040 -$164,921	$1,609,309
9	$2,890,940	-$1,029,978 -$173,167	$1,687,795
10	$3,035,500	-$1,083,465 -$181,826	$1,770,209
11	$3,187,210	-$1,139,598 -$190,914	$1,856,698
12	$3,346,590	-$1,198,569 -$200,461	$1,947,560
13	$3,513,900	-$1,260,473 -$210,483	$2,042,944
14	$3,689,660	-$1,325,505 -$221,011	$2,143,144
15	$3,874,130	-$1,393,758 -$232,060	$2,248,312
16	$4,067,830	-$1,465,427 -$243,663	$2,358,740
17	$4,271,150	-$1,540,656 -$255,842	$2,474,652
18	$4,484,740	-$1,619,684 -$268,636	$2,596,420
19	$4,708,990	-$1,702,657 -$282,069	$2,724,264
20	$4,944,420	-$1,789,766 -$296,171	$2,858,483
21	$5,191,680	-$1,881,252 -$310,982	$2,999,446
22	$5,451,290	-$1,977,308 -$326,532	$3,147,450
23	$5,723,770	-$2,078,125 -$342,854	$3,302,791
24	$6,010,030	-$2,184,041 -$360,001	$3,465,988
25	$6,310,460	-$2,295,201 -$377,997	$3,637,262
26	$6,626,100	-$2,411,987 -$396,903	$3,817,210
27	$6,957,340	-$2,534,546 -$416,745	$4,006,049
28	$7,305,220	-$2,663,262 -$437,583	$4,204,375
29	$7,670,520	-$2,798,423 -$459,464	$4,412,633
30	$8,054,020	-$2,940,318 -$482,436	$4,631,266