The jackpot for the MEGA Millions draw on Fri Jul 4, 2025, is projected to be $60 Million, with an option for a cash payout of $26.9 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 Fri Jul 4, 2025 |
|---|
| Draw Date | Fri Jul 4, 2025 | | Projected Jackpot | $60,000,000 | | Cash Value | $26,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,900,000 | | Federal Tax(24%) | $6,456,000 | | Additional Federal Tax | $3,457,330 | | State Tax(5.99%) | $1,611,310 | | Net Lumpsum Payment | $15,375,360 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$903,060 |
$294,463
$54,093 |
$554,504 |
| 2 |
$948,240 |
$311,179
$56,800 |
$580,261 |
| 3 |
$995,640 |
$328,717
$59,639 |
$607,284 |
| 4 |
$1,045,440 |
$347,143
$62,622 |
$635,675 |
| 5 |
$1,097,700 |
$366,479
$65,752 |
$665,469 |
| 6 |
$1,152,600 |
$386,792
$69,041 |
$696,767 |
| 7 |
$1,210,200 |
$408,104
$72,491 |
$729,605 |
| 8 |
$1,270,740 |
$430,504
$76,117 |
$764,119 |
| 9 |
$1,334,280 |
$454,014
$79,923 |
$800,343 |
| 10 |
$1,401,000 |
$478,700
$83,920 |
$838,380 |
| 11 |
$1,471,020 |
$504,608
$88,114 |
$878,298 |
| 12 |
$1,544,580 |
$531,825
$92,520 |
$920,235 |
| 13 |
$1,621,800 |
$560,396
$97,146 |
$964,258 |
| 14 |
$1,702,920 |
$590,411
$102,005 |
$1,010,504 |
| 15 |
$1,788,060 |
$621,913
$107,105 |
$1,059,042 |
| 16 |
$1,877,460 |
$654,991
$112,460 |
$1,110,009 |
| 17 |
$1,971,300 |
$689,711
$118,081 |
$1,163,508 |
| 18 |
$2,069,880 |
$726,186
$123,986 |
$1,219,708 |
| 19 |
$2,173,380 |
$764,481
$130,185 |
$1,278,714 |
| 20 |
$2,282,040 |
$804,685
$136,694 |
$1,340,661 |
| 21 |
$2,396,160 |
$846,910
$143,530 |
$1,405,720 |
| 22 |
$2,515,980 |
$891,243
$150,707 |
$1,474,030 |
| 23 |
$2,641,740 |
$937,774
$158,240 |
$1,545,726 |
| 24 |
$2,773,860 |
$986,659
$166,154 |
$1,621,047 |
| 25 |
$2,912,520 |
$1,037,963
$174,460 |
$1,700,097 |
| 26 |
$3,058,200 |
$1,091,864
$183,186 |
$1,783,150 |
| 27 |
$3,211,080 |
$1,148,430
$192,344 |
$1,870,306 |
| 28 |
$3,371,640 |
$1,207,837
$201,961 |
$1,961,842 |
| 29 |
$3,540,240 |
$1,270,219
$212,060 |
$2,057,961 |
| 30 |
$3,717,240 |
$1,335,709
$222,663 |
$2,158,868 |
|
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