Rhode Island Lottery

RILottery Powerball Jackpot Analysis

The Powerball jackpot for the draw on Sat May 10, 2025 is estimated to be $82 Million, with a cash option of 37.7 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 May 10, 2025

Draw Date	Jackpot	Cash Option
Sat May 10, 2025	$82,000,000	$37,700,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$37,700,000
Federal Tax(24%)	$9,048,000
Additional Federal Tax	$4,861,330
State Tax(5.99%)	$2,258,230
Net Lumpsum Payment	$21,532,440

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,234,182	-$416,978 -$73,928	$743,276
2	$1,295,928	-$439,824 -$77,626	$778,478
3	$1,360,708	-$463,792 -$81,506	$815,410
4	$1,428,768	-$488,975 -$85,583	$854,210
5	$1,500,190	-$515,401 -$89,861	$894,928
6	$1,575,220	-$543,162 -$94,356	$937,702
7	$1,653,940	-$572,288 -$99,071	$982,581
8	$1,736,678	-$602,901 -$104,027	$1,029,750
9	$1,823,516	-$635,031 -$109,229	$1,079,256
10	$1,914,700	-$668,769 -$114,691	$1,131,240
11	$2,010,394	-$704,176 -$120,423	$1,185,795
12	$2,110,926	-$741,373 -$126,444	$1,243,109
13	$2,216,460	-$780,421 -$132,766	$1,303,273
14	$2,327,324	-$821,440 -$139,407	$1,366,477
15	$2,443,682	-$864,493 -$146,377	$1,432,812
16	$2,565,862	-$909,699 -$153,695	$1,502,468
17	$2,694,110	-$957,151 -$161,377	$1,575,582
18	$2,828,836	-$1,007,000 -$169,447	$1,652,389
19	$2,970,286	-$1,059,336 -$177,920	$1,733,030
20	$3,118,788	-$1,114,282 -$186,815	$1,817,691
21	$3,274,752	-$1,171,989 -$196,158	$1,906,605
22	$3,438,506	-$1,232,578 -$205,967	$1,999,961
23	$3,610,378	-$1,296,170 -$216,262	$2,097,946
24	$3,790,942	-$1,362,979 -$227,077	$2,200,886
25	$3,980,444	-$1,433,095 -$238,429	$2,308,920
26	$4,179,540	-$1,506,760 -$250,354	$2,422,426
27	$4,388,476	-$1,584,067 -$262,870	$2,541,539
28	$4,607,908	-$1,665,256 -$276,014	$2,666,638
29	$4,838,328	-$1,750,512 -$289,816	$2,798,000
30	$5,080,228	-$1,840,015 -$304,306	$2,935,907