The jackpot for the Powerball draw on Sat Mar 21, 2026, is projected to be $120 Million, with an option for a cash payout of $54.6 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 Sat Mar 21, 2026 |
|---|
| Draw Date | Sat Mar 21, 2026 | | Projected Jackpot | $120,000,000 | | Cash Value | $54,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $54,600,000 | | Federal Tax(24%) | $13,104,000 | | Additional Federal Tax | $7,058,330 | | State Tax(5.99%) | $3,270,540 | | Net Lumpsum Payment | $31,167,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,806,120 |
$628,595
$108,187 |
$1,069,338 |
| 2 |
$1,896,480 |
$662,028
$113,599 |
$1,120,853 |
| 3 |
$1,991,280 |
$697,104
$119,278 |
$1,174,898 |
| 4 |
$2,090,880 |
$733,956
$125,244 |
$1,231,680 |
| 5 |
$2,195,400 |
$772,628
$131,504 |
$1,291,268 |
| 6 |
$2,305,200 |
$813,254
$138,081 |
$1,353,865 |
| 7 |
$2,420,400 |
$855,878
$144,982 |
$1,419,540 |
| 8 |
$2,541,480 |
$900,678
$152,235 |
$1,488,567 |
| 9 |
$2,668,560 |
$947,698
$159,847 |
$1,561,015 |
| 10 |
$2,802,000 |
$997,070
$167,840 |
$1,637,090 |
| 11 |
$2,942,040 |
$1,048,885
$176,228 |
$1,716,927 |
| 12 |
$3,089,160 |
$1,103,320
$185,041 |
$1,800,799 |
| 13 |
$3,243,600 |
$1,160,462
$194,292 |
$1,888,846 |
| 14 |
$3,405,840 |
$1,220,491
$204,010 |
$1,981,339 |
| 15 |
$3,576,120 |
$1,283,495
$214,210 |
$2,078,415 |
| 16 |
$3,754,920 |
$1,349,651
$224,920 |
$2,180,349 |
| 17 |
$3,942,600 |
$1,419,092
$236,162 |
$2,287,346 |
| 18 |
$4,139,760 |
$1,492,042
$247,972 |
$2,399,746 |
| 19 |
$4,346,760 |
$1,568,632
$260,371 |
$2,517,757 |
| 20 |
$4,564,080 |
$1,649,040
$273,388 |
$2,641,652 |
| 21 |
$4,792,320 |
$1,733,489
$287,060 |
$2,771,771 |
| 22 |
$5,031,960 |
$1,822,156
$301,414 |
$2,908,390 |
| 23 |
$5,283,480 |
$1,915,218
$316,480 |
$3,051,782 |
| 24 |
$5,547,720 |
$2,012,987
$332,308 |
$3,202,425 |
| 25 |
$5,825,040 |
$2,115,595
$348,920 |
$3,360,525 |
| 26 |
$6,116,400 |
$2,223,398
$366,372 |
$3,526,630 |
| 27 |
$6,422,160 |
$2,336,530
$384,687 |
$3,700,943 |
| 28 |
$6,743,280 |
$2,455,344
$403,922 |
$3,884,014 |
| 29 |
$7,080,480 |
$2,580,108
$424,121 |
$4,076,251 |
| 30 |
$7,434,480 |
$2,711,088
$445,325 |
$4,278,067 |
|
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