The jackpot for the MEGA Millions draw on Tue May 20, 2025, is projected to be $139 Million, with an option for a cash payout of $62.3 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Tue May 20, 2025 |
|---|
| Draw Date | Tue May 20, 2025 | | Projected Jackpot | $139,000,000 | | Cash Value | $62,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $62,300,000 | | Federal Tax(24%) | $14,952,000 | | Additional Federal Tax | $8,059,330 | | State Tax(5.99%) | $3,731,770 | | Net Lumpsum Payment | $35,556,900 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,092,089 |
$734,403
$125,316 |
$1,232,370 |
| 2 |
$2,196,756 |
$773,130
$131,586 |
$1,292,040 |
| 3 |
$2,306,566 |
$813,760
$138,163 |
$1,354,643 |
| 4 |
$2,421,936 |
$856,447
$145,074 |
$1,420,415 |
| 5 |
$2,543,005 |
$901,242
$152,326 |
$1,489,437 |
| 6 |
$2,670,190 |
$948,301
$159,944 |
$1,561,945 |
| 7 |
$2,803,630 |
$997,673
$167,937 |
$1,638,020 |
| 8 |
$2,943,881 |
$1,049,566
$176,338 |
$1,717,977 |
| 9 |
$3,091,082 |
$1,104,031
$185,156 |
$1,801,895 |
| 10 |
$3,245,650 |
$1,161,221
$194,414 |
$1,890,015 |
| 11 |
$3,407,863 |
$1,221,240
$204,131 |
$1,982,492 |
| 12 |
$3,578,277 |
$1,284,293
$214,339 |
$2,079,645 |
| 13 |
$3,757,170 |
$1,350,483
$225,054 |
$2,181,633 |
| 14 |
$3,945,098 |
$1,420,017
$236,311 |
$2,288,770 |
| 15 |
$4,142,339 |
$1,492,996
$248,126 |
$2,401,217 |
| 16 |
$4,349,449 |
$1,569,627
$260,532 |
$2,519,290 |
| 17 |
$4,566,845 |
$1,650,063
$273,554 |
$2,643,228 |
| 18 |
$4,795,222 |
$1,734,563
$287,234 |
$2,773,425 |
| 19 |
$5,034,997 |
$1,823,279
$301,596 |
$2,910,122 |
| 20 |
$5,286,726 |
$1,916,419
$316,675 |
$3,053,632 |
| 21 |
$5,551,104 |
$2,014,239
$332,511 |
$3,204,354 |
| 22 |
$5,828,687 |
$2,116,945
$349,138 |
$3,362,604 |
| 23 |
$6,120,031 |
$2,224,742
$366,590 |
$3,528,699 |
| 24 |
$6,426,109 |
$2,337,991
$384,924 |
$3,703,194 |
| 25 |
$6,747,338 |
$2,456,845
$404,166 |
$3,886,327 |
| 26 |
$7,084,830 |
$2,581,717
$424,381 |
$4,078,732 |
| 27 |
$7,439,002 |
$2,712,761
$445,596 |
$4,280,645 |
| 28 |
$7,810,966 |
$2,850,388
$467,877 |
$4,492,701 |
| 29 |
$8,201,556 |
$2,994,906
$491,273 |
$4,715,377 |
| 30 |
$8,611,606 |
$3,146,625
$515,835 |
$4,949,146 |
|
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