The jackpot for the Powerball draw on Sat Feb 28, 2026, is projected to be $238 Million, with an option for a cash payout of $110.9 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 Feb 28, 2026 |
|---|
| Draw Date | Sat Feb 28, 2026 | | Projected Jackpot | $238,000,000 | | Cash Value | $110,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $110,900,000 | | Federal Tax(24%) | $26,616,000 | | Additional Federal Tax | $14,377,330 | | State Tax(5.99%) | $6,642,910 | | Net Lumpsum Payment | $63,263,760 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,582,138 |
$1,285,721
$214,570 |
$2,081,847 |
| 2 |
$3,761,352 |
$1,352,031
$225,305 |
$2,184,016 |
| 3 |
$3,949,372 |
$1,421,598
$236,567 |
$2,291,207 |
| 4 |
$4,146,912 |
$1,494,688
$248,400 |
$2,403,824 |
| 5 |
$4,354,210 |
$1,571,388
$260,817 |
$2,522,005 |
| 6 |
$4,571,980 |
$1,651,963
$273,862 |
$2,646,155 |
| 7 |
$4,800,460 |
$1,736,501
$287,548 |
$2,776,411 |
| 8 |
$5,040,602 |
$1,825,353
$301,932 |
$2,913,317 |
| 9 |
$5,292,644 |
$1,918,609
$317,029 |
$3,057,006 |
| 10 |
$5,557,300 |
$2,016,531
$332,882 |
$3,207,887 |
| 11 |
$5,835,046 |
$2,119,297
$349,519 |
$3,366,230 |
| 12 |
$6,126,834 |
$2,227,259
$366,997 |
$3,532,578 |
| 13 |
$6,433,140 |
$2,340,592
$385,345 |
$3,707,203 |
| 14 |
$6,754,916 |
$2,459,649
$404,619 |
$3,890,648 |
| 15 |
$7,092,638 |
$2,584,606
$424,849 |
$4,083,183 |
| 16 |
$7,447,258 |
$2,715,816
$446,091 |
$4,285,351 |
| 17 |
$7,819,490 |
$2,853,542
$468,387 |
$4,497,561 |
| 18 |
$8,210,524 |
$2,998,224
$491,810 |
$4,720,490 |
| 19 |
$8,621,074 |
$3,150,128
$516,402 |
$4,954,544 |
| 20 |
$9,052,092 |
$3,309,604
$542,220 |
$5,200,268 |
| 21 |
$9,504,768 |
$3,477,095
$569,336 |
$5,458,337 |
| 22 |
$9,980,054 |
$3,652,950
$597,805 |
$5,729,299 |
| 23 |
$10,478,902 |
$3,837,524
$627,686 |
$6,013,692 |
| 24 |
$11,002,978 |
$4,031,432
$659,078 |
$6,312,468 |
| 25 |
$11,552,996 |
$4,234,939
$692,024 |
$6,626,033 |
| 26 |
$12,130,860 |
$4,448,749
$726,639 |
$6,955,472 |
| 27 |
$12,737,284 |
$4,673,125
$762,963 |
$7,301,196 |
| 28 |
$13,374,172 |
$4,908,774
$801,113 |
$7,664,285 |
| 29 |
$14,042,952 |
$5,156,223
$841,173 |
$8,045,556 |
| 30 |
$14,745,052 |
$5,416,000
$883,229 |
$8,445,823 |
|
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