The jackpot for the Powerball draw on Mon Jun 29, 2026, is projected to be $360 Million, with an option for a cash payout of $163.8 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 Mon Jun 29, 2026 |
|---|
| Draw Date | Mon Jun 29, 2026 | | Projected Jackpot | $360,000,000 | | Cash Value | $163,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $163,800,000 | | Federal Tax(24%) | $39,312,000 | | Additional Federal Tax | $21,254,330 | | State Tax(5.99%) | $9,811,620 | | Net Lumpsum Payment | $93,422,050 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,418,360 |
$1,965,124
$324,560 |
$3,128,676 |
| 2 |
$5,689,440 |
$2,065,423
$340,797 |
$3,283,220 |
| 3 |
$5,973,840 |
$2,170,651
$357,833 |
$3,445,356 |
| 4 |
$6,272,640 |
$2,281,207
$375,731 |
$3,615,702 |
| 5 |
$6,586,200 |
$2,397,224
$394,513 |
$3,794,463 |
| 6 |
$6,915,600 |
$2,519,102
$414,244 |
$3,982,254 |
| 7 |
$7,261,200 |
$2,646,974
$434,946 |
$4,179,280 |
| 8 |
$7,624,440 |
$2,781,373
$456,704 |
$4,386,363 |
| 9 |
$8,005,680 |
$2,922,432
$479,540 |
$4,603,708 |
| 10 |
$8,406,000 |
$3,070,550
$503,519 |
$4,831,931 |
| 11 |
$8,826,120 |
$3,225,995
$528,685 |
$5,071,440 |
| 12 |
$9,267,480 |
$3,389,298
$555,122 |
$5,323,060 |
| 13 |
$9,730,800 |
$3,560,726
$582,875 |
$5,587,199 |
| 14 |
$10,217,520 |
$3,740,813
$612,029 |
$5,864,678 |
| 15 |
$10,728,360 |
$3,929,824
$642,629 |
$6,155,907 |
| 16 |
$11,264,760 |
$4,128,292
$674,759 |
$6,461,709 |
| 17 |
$11,827,800 |
$4,336,616
$708,485 |
$6,782,699 |
| 18 |
$12,419,280 |
$4,555,464
$743,915 |
$7,119,901 |
| 19 |
$13,040,280 |
$4,785,234
$781,113 |
$7,473,933 |
| 20 |
$13,692,240 |
$5,026,459
$820,165 |
$7,845,616 |
| 21 |
$14,376,960 |
$5,279,806
$861,180 |
$8,235,974 |
| 22 |
$15,095,880 |
$5,545,806
$904,243 |
$8,645,831 |
| 23 |
$15,850,440 |
$5,824,993
$949,441 |
$9,076,006 |
| 24 |
$16,643,160 |
$6,118,300
$996,925 |
$9,527,935 |
| 25 |
$17,475,120 |
$6,426,125
$1,046,760 |
$10,002,235 |
| 26 |
$18,349,200 |
$6,749,534
$1,099,117 |
$10,500,549 |
| 27 |
$19,266,480 |
$7,088,928
$1,154,062 |
$11,023,490 |
| 28 |
$20,229,840 |
$7,445,371
$1,211,767 |
$11,572,702 |
| 29 |
$21,241,440 |
$7,819,663
$1,272,362 |
$12,149,415 |
| 30 |
$22,303,440 |
$8,212,603
$1,335,976 |
$12,754,861 |
|
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