Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat Mar 29, 2025 is estimated to be $515 Million, with a cash option of 242.7 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 Sat Mar 29, 2025

Draw Date	Jackpot	Cash Option
Sat Mar 29, 2025	$515,000,000	$242,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$242,700,000
Federal Tax(24%)	$58,248,000
Additional Federal Tax	$31,511,330
State Tax(5.99%)	$14,537,730
Net Lumpsum Payment	$138,402,940

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$7,751,265	-$2,828,298 -$464,301	$4,458,666
2	$8,139,060	-$2,971,783 -$487,530	$4,679,747
3	$8,545,910	-$3,122,317 -$511,900	$4,911,693
4	$8,973,360	-$3,280,474 -$537,504	$5,155,382
5	$9,421,925	-$3,446,443 -$564,373	$5,411,109
6	$9,893,150	-$3,620,796 -$592,600	$5,679,754
7	$10,387,550	-$3,803,724 -$622,214	$5,961,612
8	$10,907,185	-$3,995,989 -$653,340	$6,257,856
9	$11,452,570	-$4,197,781 -$686,009	$6,568,780
10	$12,025,250	-$4,409,673 -$720,312	$6,895,265
11	$12,626,255	-$4,632,045 -$756,313	$7,237,897
12	$13,257,645	-$4,865,659 -$794,133	$7,597,853
13	$13,920,450	-$5,110,897 -$833,835	$7,975,718
14	$14,616,730	-$5,368,520 -$875,542	$8,372,668
15	$15,347,515	-$5,638,911 -$919,316	$8,789,288
16	$16,114,865	-$5,922,830 -$965,280	$9,226,755
17	$16,920,325	-$6,220,851 -$1,013,527	$9,685,947
18	$17,766,470	-$6,533,924 -$1,064,212	$10,168,334
19	$18,654,845	-$6,862,623 -$1,117,425	$10,674,797
20	$19,587,510	-$7,207,709 -$1,173,292	$11,206,509
21	$20,567,040	-$7,570,135 -$1,231,966	$11,764,939
22	$21,595,495	-$7,950,664 -$1,293,570	$12,351,261
23	$22,674,935	-$8,350,056 -$1,358,229	$12,966,650
24	$23,808,965	-$8,769,647 -$1,426,157	$13,613,161
25	$24,999,130	-$9,210,008 -$1,497,448	$14,291,674
26	$26,249,550	-$9,672,664 -$1,572,348	$15,004,538
27	$27,561,770	-$10,158,185 -$1,650,950	$15,752,635
28	$28,939,910	-$10,668,097 -$1,733,501	$16,538,312
29	$30,387,060	-$11,203,543 -$1,820,185	$17,363,332
30	$31,906,310	-$11,765,665 -$1,911,188	$18,229,457