The jackpot for the Powerball draw on Mon Jun 23, 2025, is projected to be $128 Million, with an option for a cash payout of $57.6 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 Mon Jun 23, 2025 |
|---|
| Draw Date | Mon Jun 23, 2025 | | Projected Jackpot | $128,000,000 | | Cash Value | $57,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,600,000 | | Federal Tax(24%) | $13,824,000 | | Additional Federal Tax | $7,448,330 | | State Tax(5.99%) | $3,450,240 | | Net Lumpsum Payment | $32,877,430 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,926,528 |
$673,146
$115,399 |
$1,137,983 |
| 2 |
$2,022,912 |
$708,808
$121,172 |
$1,192,932 |
| 3 |
$2,124,032 |
$746,222
$127,230 |
$1,250,580 |
| 4 |
$2,230,272 |
$785,531
$133,593 |
$1,311,148 |
| 5 |
$2,341,760 |
$826,782
$140,271 |
$1,374,707 |
| 6 |
$2,458,880 |
$870,116
$147,287 |
$1,441,477 |
| 7 |
$2,581,760 |
$915,582
$154,647 |
$1,511,531 |
| 8 |
$2,710,912 |
$963,368
$162,384 |
$1,585,160 |
| 9 |
$2,846,464 |
$1,013,522
$170,503 |
$1,662,439 |
| 10 |
$2,988,800 |
$1,066,186
$179,029 |
$1,743,585 |
| 11 |
$3,138,176 |
$1,121,456
$187,977 |
$1,828,743 |
| 12 |
$3,295,104 |
$1,179,519
$197,377 |
$1,918,208 |
| 13 |
$3,459,840 |
$1,240,471
$207,244 |
$2,012,125 |
| 14 |
$3,632,896 |
$1,304,502
$217,610 |
$2,110,784 |
| 15 |
$3,814,528 |
$1,371,706
$228,490 |
$2,214,332 |
| 16 |
$4,005,248 |
$1,442,272
$239,914 |
$2,323,062 |
| 17 |
$4,205,440 |
$1,516,343
$251,906 |
$2,437,191 |
| 18 |
$4,415,744 |
$1,594,156
$264,503 |
$2,557,085 |
| 19 |
$4,636,544 |
$1,675,852
$277,729 |
$2,682,963 |
| 20 |
$4,868,352 |
$1,761,621
$291,614 |
$2,815,117 |
| 21 |
$5,111,808 |
$1,851,699
$306,197 |
$2,953,912 |
| 22 |
$5,367,424 |
$1,946,277
$321,509 |
$3,099,638 |
| 23 |
$5,635,712 |
$2,045,544
$337,579 |
$3,252,589 |
| 24 |
$5,917,568 |
$2,149,831
$354,462 |
$3,413,275 |
| 25 |
$6,213,376 |
$2,259,280
$372,181 |
$3,581,915 |
| 26 |
$6,524,160 |
$2,374,270
$390,797 |
$3,759,093 |
| 27 |
$6,850,304 |
$2,494,943
$410,333 |
$3,945,028 |
| 28 |
$7,192,832 |
$2,621,678
$430,851 |
$4,140,303 |
| 29 |
$7,552,512 |
$2,754,760
$452,395 |
$4,345,357 |
| 30 |
$7,930,112 |
$2,894,472
$475,014 |
$4,560,626 |
|
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