Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Mon Aug 3, 2026 is estimated to be $748 Million, with a cash option of 325.1 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 3, 2026

Draw Date	Jackpot	Cash Option
Mon Aug 3, 2026	$748,000,000	$325,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$325,100,000
Federal Tax(24%)	$78,024,000
Additional Federal Tax	$42,223,330
State Tax(5.99%)	$19,473,490
Net Lumpsum Payment	$185,379,180

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$11,258,148	-$4,125,845 -$674,363	$6,457,940
2	$11,821,392	-$4,334,245 -$708,101	$6,779,046
3	$12,412,312	-$4,552,886 -$743,497	$7,115,929
4	$13,033,152	-$4,782,597 -$780,686	$7,469,869
5	$13,684,660	-$5,023,655 -$819,711	$7,841,294
6	$14,369,080	-$5,276,890 -$860,708	$8,231,482
7	$15,087,160	-$5,542,580 -$903,721	$8,640,859
8	$15,841,892	-$5,821,830 -$948,929	$9,071,133
9	$16,634,024	-$6,114,919 -$996,378	$9,522,727
10	$17,465,800	-$6,422,676 -$1,046,201	$9,996,923
11	$18,338,716	-$6,745,655 -$1,098,489	$10,494,572
12	$19,255,764	-$7,084,963 -$1,153,420	$11,017,381
13	$20,218,440	-$7,441,153 -$1,211,085	$11,566,202
14	$21,229,736	-$7,815,333 -$1,271,661	$12,142,742
15	$22,291,148	-$8,208,055 -$1,335,240	$12,747,853
16	$23,405,668	-$8,620,428 -$1,402,000	$13,383,240
17	$24,575,540	-$9,053,280 -$1,472,075	$14,050,185
18	$25,804,504	-$9,507,997 -$1,545,690	$14,750,817
19	$27,094,804	-$9,985,408 -$1,622,979	$15,486,417
20	$28,449,432	-$10,486,620 -$1,704,121	$16,258,691
21	$29,872,128	-$11,013,018 -$1,789,340	$17,069,770
22	$31,365,884	-$11,565,707 -$1,878,816	$17,921,361
23	$32,933,692	-$12,145,796 -$1,972,728	$18,815,168
24	$34,580,788	-$12,755,222 -$2,071,389	$19,754,177
25	$36,309,416	-$13,394,814 -$2,174,934	$20,739,668
26	$38,125,560	-$14,066,788 -$2,283,721	$21,775,051
27	$40,031,464	-$14,771,972 -$2,397,885	$22,861,607
28	$42,033,112	-$15,512,582 -$2,517,783	$24,002,747
29	$44,134,992	-$16,290,277 -$2,643,686	$25,201,029
30	$46,341,592	-$17,106,719 -$2,775,861	$26,459,012