The jackpot for the Powerball draw on Mon Jun 16, 2025, is projected to be $90 Million, with an option for a cash payout of $40.7 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 Mon Jun 16, 2025 |
|---|
| Draw Date | Mon Jun 16, 2025 | | Projected Jackpot | $90,000,000 | | Cash Value | $40,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $40,700,000 | | Federal Tax(24%) | $9,768,000 | | Additional Federal Tax | $5,251,330 | | State Tax(5.99%) | $2,437,930 | | Net Lumpsum Payment | $23,242,740 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,354,590 |
$461,529
$81,140 |
$811,921 |
| 2 |
$1,422,360 |
$486,604
$85,199 |
$850,557 |
| 3 |
$1,493,460 |
$512,911
$89,458 |
$891,091 |
| 4 |
$1,568,160 |
$540,550
$93,933 |
$933,677 |
| 5 |
$1,646,550 |
$569,554
$98,628 |
$978,368 |
| 6 |
$1,728,900 |
$600,023
$103,561 |
$1,025,316 |
| 7 |
$1,815,300 |
$631,991
$108,736 |
$1,074,573 |
| 8 |
$1,906,110 |
$665,591
$114,176 |
$1,126,343 |
| 9 |
$2,001,420 |
$700,856
$119,885 |
$1,180,679 |
| 10 |
$2,101,500 |
$737,885
$125,880 |
$1,237,735 |
| 11 |
$2,206,530 |
$776,746
$132,171 |
$1,297,613 |
| 12 |
$2,316,870 |
$817,572
$138,781 |
$1,360,517 |
| 13 |
$2,432,700 |
$860,429
$145,719 |
$1,426,552 |
| 14 |
$2,554,380 |
$905,451
$153,007 |
$1,495,922 |
| 15 |
$2,682,090 |
$952,704
$160,657 |
$1,568,729 |
| 16 |
$2,816,190 |
$1,002,321
$168,690 |
$1,645,179 |
| 17 |
$2,956,950 |
$1,054,402
$177,121 |
$1,725,427 |
| 18 |
$3,104,820 |
$1,109,114
$185,979 |
$1,809,727 |
| 19 |
$3,260,070 |
$1,166,556
$195,278 |
$1,898,236 |
| 20 |
$3,423,060 |
$1,226,863
$205,041 |
$1,991,156 |
| 21 |
$3,594,240 |
$1,290,199
$215,295 |
$2,088,746 |
| 22 |
$3,773,970 |
$1,356,699
$226,061 |
$2,191,210 |
| 23 |
$3,962,610 |
$1,426,496
$237,360 |
$2,298,754 |
| 24 |
$4,160,790 |
$1,499,823
$249,231 |
$2,411,736 |
| 25 |
$4,368,780 |
$1,576,779
$261,690 |
$2,530,311 |
| 26 |
$4,587,300 |
$1,657,631
$274,779 |
$2,654,890 |
| 27 |
$4,816,620 |
$1,742,480
$288,516 |
$2,785,624 |
| 28 |
$5,057,460 |
$1,831,591
$302,942 |
$2,922,927 |
| 29 |
$5,310,360 |
$1,925,164
$318,091 |
$3,067,105 |
| 30 |
$5,575,860 |
$2,023,399
$333,994 |
$3,218,467 |
|
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