Rhode Island Lottery

RILottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Tue Aug 26, 2025 is estimated to be $253 Million, with a cash option of 113.8 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 26, 2025

Draw Date	Jackpot	Cash Option
Tue Aug 26, 2025	$253,000,000	$113,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$113,800,000
Federal Tax(24%)	$27,312,000
Additional Federal Tax	$14,754,330
State Tax(5.99%)	$6,816,620
Net Lumpsum Payment	$64,917,050

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$3,807,903	-$1,369,254 -$228,093	$2,210,556
2	$3,998,412	-$1,439,743 -$239,505	$2,319,164
3	$4,198,282	-$1,513,695 -$251,477	$2,433,110
4	$4,408,272	-$1,591,391 -$264,055	$2,552,826
5	$4,628,635	-$1,672,925 -$277,255	$2,678,455
6	$4,860,130	-$1,758,578 -$291,122	$2,810,430
7	$5,103,010	-$1,848,444 -$305,670	$2,948,896
8	$5,358,287	-$1,942,897 -$320,961	$3,094,429
9	$5,626,214	-$2,042,030 -$337,010	$3,247,174
10	$5,907,550	-$2,146,124 -$353,862	$3,407,564
11	$6,202,801	-$2,255,367 -$371,548	$3,575,886
12	$6,512,979	-$2,370,133 -$390,127	$3,752,719
13	$6,838,590	-$2,490,609 -$409,632	$3,938,349
14	$7,180,646	-$2,617,169 -$430,121	$4,133,356
15	$7,539,653	-$2,750,002 -$451,625	$4,338,026
16	$7,916,623	-$2,889,481 -$474,206	$4,552,936
17	$8,312,315	-$3,035,887 -$497,908	$4,778,520
18	$8,727,994	-$3,189,688 -$522,807	$5,015,499
19	$9,164,419	-$3,351,165 -$548,949	$5,264,305
20	$9,622,602	-$3,520,693 -$576,394	$5,525,515
21	$10,103,808	-$3,698,739 -$605,218	$5,799,851
22	$10,609,049	-$3,885,679 -$635,482	$6,087,888
23	$11,139,337	-$4,081,885 -$667,246	$6,390,206
24	$11,696,443	-$4,288,014 -$700,617	$6,707,812
25	$12,281,126	-$4,504,347 -$735,639	$7,041,140
26	$12,895,410	-$4,731,632 -$772,435	$7,391,343
27	$13,540,054	-$4,970,150 -$811,049	$7,758,855
28	$14,217,082	-$5,220,651 -$851,603	$8,144,828
29	$14,928,012	-$5,483,695 -$894,188	$8,550,129
30	$15,674,362	-$5,759,844 -$938,894	$8,975,624