Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 24, 2026 is estimated to be $81 Million, with a cash option of 34.8 Million. If you win the Powerball 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 Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

Rhode Island Powerball Jackpot/Cash Option for Mon Aug 24, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 24, 2026	$81,000,000	$34,800,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,800,000
Federal Tax(24%)	$8,352,000
Additional Federal Tax	$4,484,330
State Tax(5.99%)	$2,084,520
Net Lumpsum Payment	$19,879,150

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,219,131	-$411,409 -$73,026	$734,696
2	$1,280,124	-$433,976 -$76,679	$769,469
3	$1,344,114	-$457,653 -$80,512	$805,949
4	$1,411,344	-$482,528 -$84,540	$844,276
5	$1,481,895	-$508,632 -$88,766	$884,497
6	$1,556,010	-$536,054 -$93,205	$926,751
7	$1,633,770	-$564,825 -$97,863	$971,082
8	$1,715,499	-$595,065 -$102,758	$1,017,676
9	$1,801,278	-$626,803 -$107,897	$1,066,578
10	$1,891,350	-$660,130 -$113,292	$1,117,928
11	$1,985,877	-$695,105 -$118,954	$1,171,818
12	$2,085,183	-$731,848 -$124,902	$1,228,433
13	$2,189,430	-$770,419 -$131,147	$1,287,864
14	$2,298,942	-$810,939 -$137,707	$1,350,296
15	$2,413,881	-$853,466 -$144,591	$1,415,824
16	$2,534,571	-$898,122 -$151,821	$1,484,628
17	$2,661,255	-$944,995 -$159,409	$1,556,851
18	$2,794,338	-$994,235 -$167,381	$1,632,722
19	$2,934,063	-$1,045,934 -$175,750	$1,712,379
20	$3,080,754	-$1,100,209 -$184,537	$1,796,008
21	$3,234,816	-$1,157,212 -$193,765	$1,883,839
22	$3,396,573	-$1,217,062 -$203,455	$1,976,056
23	$3,566,349	-$1,279,880 -$213,624	$2,072,845
24	$3,744,711	-$1,345,873 -$224,308	$2,174,530
25	$3,931,902	-$1,415,134 -$235,521	$2,281,247
26	$4,128,570	-$1,487,901 -$247,301	$2,393,368
27	$4,334,958	-$1,564,265 -$259,664	$2,511,029
28	$4,551,714	-$1,644,465 -$272,648	$2,634,601
29	$4,779,324	-$1,728,680 -$286,282	$2,764,362
30	$5,018,274	-$1,817,092 -$300,595	$2,900,587