The jackpot for the Powerball draw on Sat May 24, 2025, is projected to be $163 Million, with an option for a cash payout of $73.3 Million. Should you be the lucky winner of the Powerball jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Rhode Island residents, the state will deduct 5.99% from your lottery earnings.
| Rhode Island Powerball Jackpot/Cash Option for Sat May 24, 2025 |
|---|
| Draw Date | Sat May 24, 2025 | | Projected Jackpot | $163,000,000 | | Cash Value | $73,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $73,300,000 | | Federal Tax(24%) | $17,592,000 | | Additional Federal Tax | $9,489,330 | | State Tax(5.99%) | $4,390,670 | | Net Lumpsum Payment | $41,828,000 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,453,313 |
$868,056
$146,953 |
$1,438,304 |
| 2 |
$2,576,052 |
$913,470
$154,306 |
$1,508,276 |
| 3 |
$2,704,822 |
$961,115
$162,019 |
$1,581,688 |
| 4 |
$2,840,112 |
$1,011,172
$170,123 |
$1,658,817 |
| 5 |
$2,982,085 |
$1,063,702
$178,627 |
$1,739,756 |
| 6 |
$3,131,230 |
$1,118,885
$187,561 |
$1,824,784 |
| 7 |
$3,287,710 |
$1,176,783
$196,934 |
$1,913,993 |
| 8 |
$3,452,177 |
$1,237,636
$206,785 |
$2,007,756 |
| 9 |
$3,624,794 |
$1,301,504
$217,125 |
$2,106,165 |
| 10 |
$3,806,050 |
$1,368,569
$227,982 |
$2,209,499 |
| 11 |
$3,996,271 |
$1,438,951
$239,377 |
$2,317,943 |
| 12 |
$4,196,109 |
$1,512,891
$251,347 |
$2,431,871 |
| 13 |
$4,405,890 |
$1,590,510
$263,913 |
$2,551,467 |
| 14 |
$4,626,266 |
$1,672,049
$277,113 |
$2,677,104 |
| 15 |
$4,857,563 |
$1,757,629
$290,968 |
$2,808,966 |
| 16 |
$5,100,433 |
$1,847,491
$305,516 |
$2,947,426 |
| 17 |
$5,355,365 |
$1,941,815
$320,786 |
$3,092,764 |
| 18 |
$5,623,174 |
$2,040,905
$336,828 |
$3,245,441 |
| 19 |
$5,904,349 |
$2,144,940
$353,671 |
$3,405,738 |
| 20 |
$6,199,542 |
$2,254,161
$371,353 |
$3,574,028 |
| 21 |
$6,509,568 |
$2,368,871
$389,923 |
$3,750,774 |
| 22 |
$6,835,079 |
$2,489,310
$409,421 |
$3,936,348 |
| 23 |
$7,176,727 |
$2,615,719
$429,886 |
$4,131,122 |
| 24 |
$7,535,653 |
$2,748,522
$451,386 |
$4,335,745 |
| 25 |
$7,912,346 |
$2,887,898
$473,950 |
$4,550,498 |
| 26 |
$8,308,110 |
$3,034,331
$497,656 |
$4,776,123 |
| 27 |
$8,723,434 |
$3,188,001
$522,534 |
$5,012,899 |
| 28 |
$9,159,622 |
$3,349,391
$548,661 |
$5,261,570 |
| 29 |
$9,617,652 |
$3,518,862
$576,097 |
$5,522,693 |
| 30 |
$10,098,502 |
$3,696,776
$604,900 |
$5,796,826 |
|
|
