The jackpot for the Powerball draw on Wed Jul 16, 2025, is projected to be $264 Million, with an option for a cash payout of $119.7 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 Jul 16, 2025 |
|---|
| Draw Date | Wed Jul 16, 2025 | | Projected Jackpot | $264,000,000 | | Cash Value | $119,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $119,700,000 | | Federal Tax(24%) | $28,728,000 | | Additional Federal Tax | $15,521,330 | | State Tax(5.99%) | $7,170,030 | | Net Lumpsum Payment | $68,280,640 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,973,464 |
$1,430,512
$238,010 |
$2,304,942 |
| 2 |
$4,172,256 |
$1,504,065
$249,918 |
$2,418,273 |
| 3 |
$4,380,816 |
$1,581,232
$262,411 |
$2,537,173 |
| 4 |
$4,599,936 |
$1,662,307
$275,536 |
$2,662,093 |
| 5 |
$4,829,880 |
$1,747,386
$289,310 |
$2,793,184 |
| 6 |
$5,071,440 |
$1,836,763
$303,779 |
$2,930,898 |
| 7 |
$5,324,880 |
$1,930,536
$318,960 |
$3,075,384 |
| 8 |
$5,591,256 |
$2,029,095
$334,916 |
$3,227,245 |
| 9 |
$5,870,832 |
$2,132,538
$351,663 |
$3,386,631 |
| 10 |
$6,164,400 |
$2,241,158
$369,248 |
$3,553,994 |
| 11 |
$6,472,488 |
$2,355,151
$387,702 |
$3,729,635 |
| 12 |
$6,796,152 |
$2,474,907
$407,090 |
$3,914,155 |
| 13 |
$7,135,920 |
$2,600,621
$427,442 |
$4,107,857 |
| 14 |
$7,492,848 |
$2,732,684
$448,822 |
$4,311,342 |
| 15 |
$7,867,464 |
$2,871,292
$471,261 |
$4,524,911 |
| 16 |
$8,260,824 |
$3,016,835
$494,823 |
$4,749,166 |
| 17 |
$8,673,720 |
$3,169,607
$519,556 |
$4,984,557 |
| 18 |
$9,107,472 |
$3,330,095
$545,538 |
$5,231,839 |
| 19 |
$9,562,872 |
$3,498,593
$572,816 |
$5,491,463 |
| 20 |
$10,040,976 |
$3,675,492
$601,454 |
$5,764,030 |
| 21 |
$10,543,104 |
$3,861,279
$631,532 |
$6,050,293 |
| 22 |
$11,070,312 |
$4,056,346
$663,112 |
$6,350,854 |
| 23 |
$11,623,656 |
$4,261,083
$696,257 |
$6,666,316 |
| 24 |
$12,204,984 |
$4,476,174
$731,079 |
$6,997,731 |
| 25 |
$12,815,088 |
$4,701,913
$767,624 |
$7,345,551 |
| 26 |
$13,456,080 |
$4,939,080
$806,019 |
$7,710,981 |
| 27 |
$14,128,752 |
$5,187,969
$846,312 |
$8,094,471 |
| 28 |
$14,835,216 |
$5,449,360
$888,629 |
$8,497,227 |
| 29 |
$15,577,056 |
$5,723,841
$933,066 |
$8,920,149 |
| 30 |
$16,355,856 |
$6,011,997
$979,716 |
$9,364,143 |
|
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