The jackpot for the MEGA Millions draw on Tue Jun 17, 2025, is projected to be $280 Million, with an option for a cash payout of $126.1 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 Jun 17, 2025 |
|---|
| Draw Date | Tue Jun 17, 2025 | | Projected Jackpot | $280,000,000 | | Cash Value | $126,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $126,100,000 | | Federal Tax(24%) | $30,264,000 | | Additional Federal Tax | $16,353,330 | | State Tax(5.99%) | $7,553,390 | | Net Lumpsum Payment | $71,929,280 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,214,280 |
$1,519,614
$252,435 |
$2,442,231 |
| 2 |
$4,425,120 |
$1,597,625
$265,065 |
$2,562,430 |
| 3 |
$4,646,320 |
$1,679,469
$278,315 |
$2,688,536 |
| 4 |
$4,878,720 |
$1,765,457
$292,235 |
$2,821,028 |
| 5 |
$5,122,600 |
$1,855,692
$306,844 |
$2,960,064 |
| 6 |
$5,378,800 |
$1,950,486
$322,190 |
$3,106,124 |
| 7 |
$5,647,600 |
$2,049,942
$338,291 |
$3,259,367 |
| 8 |
$5,930,120 |
$2,154,475
$355,214 |
$3,420,431 |
| 9 |
$6,226,640 |
$2,264,187
$372,976 |
$3,589,477 |
| 10 |
$6,538,000 |
$2,379,390
$391,626 |
$3,766,984 |
| 11 |
$6,864,760 |
$2,500,292
$411,199 |
$3,953,269 |
| 12 |
$7,208,040 |
$2,627,305
$431,762 |
$4,148,973 |
| 13 |
$7,568,400 |
$2,760,638
$453,347 |
$4,354,415 |
| 14 |
$7,946,960 |
$2,900,706
$476,023 |
$4,570,231 |
| 15 |
$8,344,280 |
$3,047,714
$499,822 |
$4,796,744 |
| 16 |
$8,761,480 |
$3,202,078
$524,813 |
$5,034,589 |
| 17 |
$9,199,400 |
$3,364,108
$551,044 |
$5,284,248 |
| 18 |
$9,659,440 |
$3,534,323
$578,600 |
$5,546,517 |
| 19 |
$10,142,440 |
$3,713,033
$607,532 |
$5,821,875 |
| 20 |
$10,649,520 |
$3,900,653
$637,906 |
$6,110,961 |
| 21 |
$11,182,080 |
$4,097,700
$669,807 |
$6,414,573 |
| 22 |
$11,741,240 |
$4,304,589
$703,300 |
$6,733,351 |
| 23 |
$12,328,120 |
$4,521,735
$738,454 |
$7,067,931 |
| 24 |
$12,944,680 |
$4,749,862
$775,386 |
$7,419,432 |
| 25 |
$13,591,760 |
$4,989,282
$814,146 |
$7,788,332 |
| 26 |
$14,271,600 |
$5,240,822
$854,869 |
$8,175,909 |
| 27 |
$14,985,040 |
$5,504,795
$897,604 |
$8,582,641 |
| 28 |
$15,734,320 |
$5,782,029
$942,486 |
$9,009,805 |
| 29 |
$16,521,120 |
$6,073,145
$989,615 |
$9,458,360 |
| 30 |
$17,347,120 |
$6,378,765
$1,039,092 |
$9,929,263 |
|
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