The jackpot for the Powerball draw on Sat May 3, 2025, is projected to be $44 Million, with an option for a cash payout of $20.3 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 Sat May 3, 2025 |
|---|
| Draw Date | Sat May 3, 2025 | | Projected Jackpot | $44,000,000 | | Cash Value | $20,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,300,000 | | Federal Tax(24%) | $4,872,000 | | Additional Federal Tax | $2,599,330 | | State Tax(5.99%) | $1,215,970 | | Net Lumpsum Payment | $11,612,700 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$662,244 |
$205,361
$39,668 |
$417,215 |
| 2 |
$695,376 |
$217,620
$41,653 |
$436,103 |
| 3 |
$730,136 |
$230,481
$43,735 |
$455,920 |
| 4 |
$766,656 |
$243,993
$45,923 |
$476,740 |
| 5 |
$804,980 |
$258,173
$48,218 |
$498,589 |
| 6 |
$845,240 |
$273,069
$50,630 |
$521,541 |
| 7 |
$887,480 |
$288,698
$53,160 |
$545,622 |
| 8 |
$931,876 |
$305,125
$55,819 |
$570,932 |
| 9 |
$978,472 |
$322,365
$58,610 |
$597,497 |
| 10 |
$1,027,400 |
$340,468
$61,541 |
$625,391 |
| 11 |
$1,078,748 |
$359,467
$64,617 |
$654,664 |
| 12 |
$1,132,692 |
$379,426
$67,848 |
$685,418 |
| 13 |
$1,189,320 |
$400,379
$71,240 |
$717,701 |
| 14 |
$1,248,808 |
$422,389
$74,804 |
$751,615 |
| 15 |
$1,311,244 |
$445,491
$78,544 |
$787,209 |
| 16 |
$1,376,804 |
$469,748
$82,471 |
$824,585 |
| 17 |
$1,445,620 |
$495,210
$86,593 |
$863,817 |
| 18 |
$1,517,912 |
$521,958
$90,923 |
$905,031 |
| 19 |
$1,593,812 |
$550,041
$95,469 |
$948,302 |
| 20 |
$1,673,496 |
$579,524
$100,242 |
$993,730 |
| 21 |
$1,757,184 |
$610,488
$105,255 |
$1,041,441 |
| 22 |
$1,845,052 |
$643,000
$110,519 |
$1,091,533 |
| 23 |
$1,937,276 |
$677,123
$116,043 |
$1,144,110 |
| 24 |
$2,034,164 |
$712,971
$121,846 |
$1,199,347 |
| 25 |
$2,135,848 |
$750,594
$127,937 |
$1,257,317 |
| 26 |
$2,242,680 |
$790,122
$134,337 |
$1,318,221 |
| 27 |
$2,354,792 |
$831,603
$141,052 |
$1,382,137 |
| 28 |
$2,472,536 |
$875,169
$148,105 |
$1,449,262 |
| 29 |
$2,596,176 |
$920,916
$155,511 |
$1,519,749 |
| 30 |
$2,725,976 |
$968,942
$163,286 |
$1,593,748 |
|
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