Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Apr 15, 2025 is estimated to be $96 Million, with a cash option of 42.2 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 Apr 15, 2025

Draw Date	Jackpot	Cash Option
Tue Apr 15, 2025	$96,000,000	$42,200,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$42,200,000
Federal Tax(24%)	$10,128,000
Additional Federal Tax	$5,446,330
State Tax(5.99%)	$2,527,780
Net Lumpsum Payment	$24,097,890

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,444,896	-$494,942 -$86,549	$863,405
2	$1,517,184	-$521,688 -$90,879	$904,617
3	$1,593,024	-$549,749 -$95,422	$947,853
4	$1,672,704	-$579,231 -$100,195	$993,278
5	$1,756,320	-$610,169 -$105,204	$1,040,947
6	$1,844,160	-$642,670 -$110,465	$1,091,025
7	$1,936,320	-$676,769 -$115,986	$1,143,565
8	$2,033,184	-$712,608 -$121,788	$1,198,788
9	$2,134,848	-$750,224 -$127,877	$1,256,747
10	$2,241,600	-$789,722 -$134,272	$1,317,606
11	$2,353,632	-$831,174 -$140,983	$1,381,475
12	$2,471,328	-$874,722 -$148,033	$1,448,573
13	$2,594,880	-$920,436 -$155,433	$1,519,011
14	$2,724,672	-$968,459 -$163,208	$1,593,005
15	$2,860,896	-$1,018,862 -$171,368	$1,670,666
16	$3,003,936	-$1,071,787 -$179,936	$1,752,213
17	$3,154,080	-$1,127,340 -$188,929	$1,837,811
18	$3,311,808	-$1,185,699 -$198,377	$1,927,732
19	$3,477,408	-$1,246,971 -$208,297	$2,022,140
20	$3,651,264	-$1,311,298 -$218,711	$2,121,255
21	$3,833,856	-$1,378,857 -$229,648	$2,225,351
22	$4,025,568	-$1,449,791 -$241,132	$2,334,645
23	$4,226,784	-$1,524,240 -$253,184	$2,449,360
24	$4,438,176	-$1,602,456 -$265,847	$2,569,873
25	$4,660,032	-$1,684,542 -$279,136	$2,696,354
26	$4,893,120	-$1,770,785 -$293,098	$2,829,237
27	$5,137,728	-$1,861,290 -$307,750	$2,968,688
28	$5,394,624	-$1,956,341 -$323,138	$3,115,145
29	$5,664,384	-$2,056,152 -$339,297	$3,268,935
30	$5,947,584	-$2,160,936 -$356,260	$3,430,388