The jackpot for the Powerball draw on Wed Apr 30, 2025, is projected to be $30 Million, with an option for a cash payout of $13.9 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 Wed Apr 30, 2025 |
|---|
| Draw Date | Wed Apr 30, 2025 | | Projected Jackpot | $30,000,000 | | Cash Value | $13,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,900,000 | | Federal Tax(24%) | $3,336,000 | | Additional Federal Tax | $1,767,330 | | State Tax(5.99%) | $832,610 | | Net Lumpsum Payment | $7,964,060 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$451,530 |
$127,396
$27,047 |
$297,087 |
| 2 |
$474,120 |
$135,755
$28,400 |
$309,965 |
| 3 |
$497,820 |
$144,524
$29,819 |
$323,477 |
| 4 |
$522,720 |
$153,737
$31,311 |
$337,672 |
| 5 |
$548,850 |
$163,405
$32,876 |
$352,569 |
| 6 |
$576,300 |
$173,561
$34,520 |
$368,219 |
| 7 |
$605,100 |
$184,217
$36,245 |
$384,638 |
| 8 |
$635,370 |
$195,417
$38,059 |
$401,894 |
| 9 |
$667,140 |
$207,172
$39,962 |
$420,006 |
| 10 |
$700,500 |
$219,515
$41,960 |
$439,025 |
| 11 |
$735,510 |
$232,469
$44,057 |
$458,984 |
| 12 |
$772,290 |
$246,078
$46,260 |
$479,952 |
| 13 |
$810,900 |
$260,363
$48,573 |
$501,964 |
| 14 |
$851,460 |
$275,371
$51,002 |
$525,087 |
| 15 |
$894,030 |
$291,121
$53,552 |
$549,357 |
| 16 |
$938,730 |
$307,660
$56,230 |
$574,840 |
| 17 |
$985,650 |
$325,021
$59,040 |
$601,589 |
| 18 |
$1,034,940 |
$343,258
$61,993 |
$629,689 |
| 19 |
$1,086,690 |
$362,406
$65,093 |
$659,191 |
| 20 |
$1,141,020 |
$382,508
$68,347 |
$690,165 |
| 21 |
$1,198,080 |
$403,620
$71,765 |
$722,695 |
| 22 |
$1,257,990 |
$425,787
$75,354 |
$756,849 |
| 23 |
$1,320,870 |
$449,052
$79,120 |
$792,698 |
| 24 |
$1,386,930 |
$473,494
$83,077 |
$830,359 |
| 25 |
$1,456,260 |
$499,147
$87,230 |
$869,883 |
| 26 |
$1,529,100 |
$526,097
$91,593 |
$911,410 |
| 27 |
$1,605,540 |
$554,380
$96,172 |
$954,988 |
| 28 |
$1,685,820 |
$584,084
$100,981 |
$1,000,755 |
| 29 |
$1,770,120 |
$615,275
$106,030 |
$1,048,815 |
| 30 |
$1,858,620 |
$648,020
$111,331 |
$1,099,269 |
|
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