Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jun 27, 2025 is estimated to be $348 Million, with a cash option of 155.5 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 Fri Jun 27, 2025

Draw Date	Jackpot	Cash Option
Fri Jun 27, 2025	$348,000,000	$155,500,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$155,500,000
Federal Tax(24%)	$37,320,000
Additional Federal Tax	$20,175,330
State Tax(5.99%)	$9,314,450
Net Lumpsum Payment	$88,690,220

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$5,237,748	-$1,898,297 -$313,741	$3,025,710
2	$5,499,792	-$1,995,253 -$329,438	$3,175,101
3	$5,774,712	-$2,096,974 -$345,905	$3,331,833
4	$6,063,552	-$2,203,845 -$363,207	$3,496,500
5	$6,366,660	-$2,315,995 -$381,363	$3,669,302
6	$6,685,080	-$2,433,810 -$400,436	$3,850,834
7	$7,019,160	-$2,557,420 -$420,448	$4,041,292
8	$7,370,292	-$2,687,338 -$441,480	$4,241,474
9	$7,738,824	-$2,823,695 -$463,556	$4,451,573
10	$8,125,800	-$2,966,876 -$486,735	$4,672,189
11	$8,531,916	-$3,117,139 -$511,062	$4,903,715
12	$8,958,564	-$3,274,999 -$536,618	$5,146,947
13	$9,406,440	-$3,440,713 -$563,446	$5,402,281
14	$9,876,936	-$3,614,797 -$591,628	$5,670,511
15	$10,370,748	-$3,797,507 -$621,208	$5,952,033
16	$10,889,268	-$3,989,360 -$652,267	$6,247,641
17	$11,433,540	-$4,190,740 -$684,869	$6,557,931
18	$12,005,304	-$4,402,293 -$719,118	$6,883,893
19	$12,605,604	-$4,624,404 -$755,076	$7,226,124
20	$13,235,832	-$4,857,588 -$792,826	$7,585,418
21	$13,897,728	-$5,102,490 -$832,474	$7,962,764
22	$14,592,684	-$5,359,623 -$874,102	$8,358,959
23	$15,322,092	-$5,629,504 -$917,793	$8,774,795
24	$16,088,388	-$5,913,034 -$963,694	$9,211,660
25	$16,892,616	-$6,210,598 -$1,011,868	$9,670,150
26	$17,737,560	-$6,523,228 -$1,062,480	$10,151,852
27	$18,624,264	-$6,851,308 -$1,115,593	$10,657,363
28	$19,555,512	-$7,195,870 -$1,171,375	$11,188,267
29	$20,533,392	-$7,557,685 -$1,229,950	$11,745,757
30	$21,559,992	-$7,937,527 -$1,291,444	$12,331,021