The jackpot for the Powerball draw on Wed Jul 1, 2026, is projected to be $375 Million, with an option for a cash payout of $170.6 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 1, 2026 |
|---|
| Draw Date | Wed Jul 1, 2026 | | Projected Jackpot | $375,000,000 | | Cash Value | $170,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $170,600,000 | | Federal Tax(24%) | $40,944,000 | | Additional Federal Tax | $22,138,330 | | State Tax(5.99%) | $10,218,940 | | Net Lumpsum Payment | $97,298,730 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,644,125 |
$2,048,657
$338,083 |
$3,257,385 |
| 2 |
$5,926,500 |
$2,153,135
$354,997 |
$3,418,368 |
| 3 |
$6,222,750 |
$2,262,748
$372,743 |
$3,587,259 |
| 4 |
$6,534,000 |
$2,377,910
$391,387 |
$3,764,703 |
| 5 |
$6,860,625 |
$2,498,762
$410,951 |
$3,950,912 |
| 6 |
$7,203,750 |
$2,625,718
$431,505 |
$4,146,527 |
| 7 |
$7,563,750 |
$2,758,918
$453,069 |
$4,351,763 |
| 8 |
$7,942,125 |
$2,898,917
$475,733 |
$4,567,475 |
| 9 |
$8,339,250 |
$3,045,853
$499,521 |
$4,793,876 |
| 10 |
$8,756,250 |
$3,200,143
$524,499 |
$5,031,608 |
| 11 |
$9,193,875 |
$3,362,064
$550,713 |
$5,281,098 |
| 12 |
$9,653,625 |
$3,532,172
$578,252 |
$5,543,201 |
| 13 |
$10,136,250 |
$3,710,743
$607,161 |
$5,818,346 |
| 14 |
$10,643,250 |
$3,898,333
$637,531 |
$6,107,386 |
| 15 |
$11,175,375 |
$4,095,219
$669,405 |
$6,410,751 |
| 16 |
$11,734,125 |
$4,301,957
$702,874 |
$6,729,294 |
| 17 |
$12,320,625 |
$4,518,962
$738,005 |
$7,063,658 |
| 18 |
$12,936,750 |
$4,746,928
$774,911 |
$7,414,911 |
| 19 |
$13,583,625 |
$4,986,272
$813,659 |
$7,783,694 |
| 20 |
$14,262,750 |
$5,237,548
$854,339 |
$8,170,863 |
| 21 |
$14,976,000 |
$5,501,450
$897,062 |
$8,577,488 |
| 22 |
$15,724,875 |
$5,778,534
$941,920 |
$9,004,421 |
| 23 |
$16,510,875 |
$6,069,354
$989,001 |
$9,452,520 |
| 24 |
$17,336,625 |
$6,374,882
$1,038,464 |
$9,923,279 |
| 25 |
$18,203,250 |
$6,695,533
$1,090,375 |
$10,417,342 |
| 26 |
$19,113,750 |
$7,032,418
$1,144,914 |
$10,936,418 |
| 27 |
$20,069,250 |
$7,385,953
$1,202,148 |
$11,481,149 |
| 28 |
$21,072,750 |
$7,757,248
$1,262,258 |
$12,053,244 |
| 29 |
$22,126,500 |
$8,147,135
$1,325,377 |
$12,653,988 |
| 30 |
$23,232,750 |
$8,556,448
$1,391,642 |
$13,284,660 |
|
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