Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 4, 2026 is estimated to be $60 Million, with a cash option of 25.5 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 4, 2026

Draw Date	Jackpot	Cash Option
Tue Aug 4, 2026	$60,000,000	$25,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$25,500,000
Federal Tax(24%)	$6,120,000
Additional Federal Tax	$3,275,330
State Tax(5.99%)	$1,527,450
Net Lumpsum Payment	$14,577,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$903,060	-$294,463 -$54,093	$554,504
2	$948,240	-$311,179 -$56,800	$580,261
3	$995,640	-$328,717 -$59,639	$607,284
4	$1,045,440	-$347,143 -$62,622	$635,675
5	$1,097,700	-$366,479 -$65,752	$665,469
6	$1,152,600	-$386,792 -$69,041	$696,767
7	$1,210,200	-$408,104 -$72,491	$729,605
8	$1,270,740	-$430,504 -$76,117	$764,119
9	$1,334,280	-$454,014 -$79,923	$800,343
10	$1,401,000	-$478,700 -$83,920	$838,380
11	$1,471,020	-$504,608 -$88,114	$878,298
12	$1,544,580	-$531,825 -$92,520	$920,235
13	$1,621,800	-$560,396 -$97,146	$964,258
14	$1,702,920	-$590,411 -$102,005	$1,010,504
15	$1,788,060	-$621,913 -$107,105	$1,059,042
16	$1,877,460	-$654,991 -$112,460	$1,110,009
17	$1,971,300	-$689,711 -$118,081	$1,163,508
18	$2,069,880	-$726,186 -$123,986	$1,219,708
19	$2,173,380	-$764,481 -$130,185	$1,278,714
20	$2,282,040	-$804,685 -$136,694	$1,340,661
21	$2,396,160	-$846,910 -$143,530	$1,405,720
22	$2,515,980	-$891,243 -$150,707	$1,474,030
23	$2,641,740	-$937,774 -$158,240	$1,545,726
24	$2,773,860	-$986,659 -$166,154	$1,621,047
25	$2,912,520	-$1,037,963 -$174,460	$1,700,097
26	$3,058,200	-$1,091,864 -$183,186	$1,783,150
27	$3,211,080	-$1,148,430 -$192,344	$1,870,306
28	$3,371,640	-$1,207,837 -$201,961	$1,961,842
29	$3,540,240	-$1,270,219 -$212,060	$2,057,961
30	$3,717,240	-$1,335,709 -$222,663	$2,158,868