The jackpot for the Powerball draw on Wed Mar 12, 2025, is projected to be $353 Million, with an option for a cash payout of $165.7 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 Mar 12, 2025 |
|---|
| Draw Date | Wed Mar 12, 2025 | | Projected Jackpot | $353,000,000 | | Cash Value | $165,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $165,700,000 | | Federal Tax(24%) | $39,768,000 | | Additional Federal Tax | $21,501,330 | | State Tax(5.99%) | $9,925,430 | | Net Lumpsum Payment | $94,505,240 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,313,003 |
$1,926,141
$318,249 |
$3,068,613 |
| 2 |
$5,578,812 |
$2,024,491
$334,171 |
$3,220,150 |
| 3 |
$5,857,682 |
$2,127,673
$350,875 |
$3,379,134 |
| 4 |
$6,150,672 |
$2,236,079
$368,425 |
$3,546,168 |
| 5 |
$6,458,135 |
$2,349,840
$386,842 |
$3,721,453 |
| 6 |
$6,781,130 |
$2,469,348
$406,190 |
$3,905,592 |
| 7 |
$7,120,010 |
$2,594,734
$426,489 |
$4,098,787 |
| 8 |
$7,476,187 |
$2,726,520
$447,824 |
$4,301,843 |
| 9 |
$7,850,014 |
$2,864,836
$470,216 |
$4,514,962 |
| 10 |
$8,242,550 |
$3,010,074
$493,729 |
$4,738,747 |
| 11 |
$8,654,501 |
$3,162,496
$518,405 |
$4,973,600 |
| 12 |
$9,087,279 |
$3,322,624
$544,328 |
$5,220,327 |
| 13 |
$9,541,590 |
$3,490,719
$571,541 |
$5,479,330 |
| 14 |
$10,018,846 |
$3,667,303
$600,129 |
$5,751,414 |
| 15 |
$10,519,753 |
$3,852,639
$630,133 |
$6,036,981 |
| 16 |
$11,045,723 |
$4,047,248
$661,639 |
$6,336,836 |
| 17 |
$11,597,815 |
$4,251,522
$694,709 |
$6,651,584 |
| 18 |
$12,177,794 |
$4,466,114
$729,450 |
$6,982,230 |
| 19 |
$12,786,719 |
$4,691,416
$765,924 |
$7,329,379 |
| 20 |
$13,426,002 |
$4,927,951
$804,218 |
$7,693,833 |
| 21 |
$14,097,408 |
$5,176,371
$844,435 |
$8,076,602 |
| 22 |
$14,802,349 |
$5,437,200
$886,661 |
$8,478,488 |
| 23 |
$15,542,237 |
$5,710,958
$930,980 |
$8,900,299 |
| 24 |
$16,319,543 |
$5,998,561
$977,541 |
$9,343,441 |
| 25 |
$17,135,326 |
$6,300,401
$1,026,406 |
$9,808,519 |
| 26 |
$17,992,410 |
$6,617,522
$1,077,745 |
$10,297,143 |
| 27 |
$18,891,854 |
$6,950,316
$1,131,622 |
$10,809,916 |
| 28 |
$19,836,482 |
$7,299,829
$1,188,205 |
$11,348,448 |
| 29 |
$20,828,412 |
$7,666,843
$1,247,622 |
$11,913,947 |
| 30 |
$21,869,762 |
$8,052,142
$1,309,999 |
$12,507,621 |
|
|
