The jackpot for the Powerball draw on Wed Jul 2, 2025, is projected to be $174 Million, with an option for a cash payout of $79.7 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 Jul 2, 2025 |
|---|
| Draw Date | Wed Jul 2, 2025 | | Projected Jackpot | $174,000,000 | | Cash Value | $79,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $79,700,000 | | Federal Tax(24%) | $19,128,000 | | Additional Federal Tax | $10,321,330 | | State Tax(5.99%) | $4,774,030 | | Net Lumpsum Payment | $45,476,640 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,618,874 |
$929,314
$156,871 |
$1,532,689 |
| 2 |
$2,749,896 |
$977,792
$164,719 |
$1,607,385 |
| 3 |
$2,887,356 |
$1,028,652
$172,953 |
$1,685,751 |
| 4 |
$3,031,776 |
$1,082,088
$181,603 |
$1,768,085 |
| 5 |
$3,183,330 |
$1,138,162
$190,681 |
$1,854,487 |
| 6 |
$3,342,540 |
$1,197,070
$200,218 |
$1,945,252 |
| 7 |
$3,509,580 |
$1,258,875
$210,224 |
$2,040,481 |
| 8 |
$3,685,146 |
$1,323,834
$220,740 |
$2,140,572 |
| 9 |
$3,869,412 |
$1,392,013
$231,778 |
$2,245,621 |
| 10 |
$4,062,900 |
$1,463,603
$243,368 |
$2,355,929 |
| 11 |
$4,265,958 |
$1,538,735
$255,531 |
$2,471,692 |
| 12 |
$4,479,282 |
$1,617,665
$268,309 |
$2,593,308 |
| 13 |
$4,703,220 |
$1,700,522
$281,723 |
$2,720,975 |
| 14 |
$4,938,468 |
$1,787,564
$295,814 |
$2,855,090 |
| 15 |
$5,185,374 |
$1,878,919
$310,604 |
$2,995,851 |
| 16 |
$5,444,634 |
$1,974,845
$326,134 |
$3,143,655 |
| 17 |
$5,716,770 |
$2,075,535
$342,435 |
$3,298,800 |
| 18 |
$6,002,652 |
$2,181,312
$359,559 |
$3,461,781 |
| 19 |
$6,302,802 |
$2,292,367
$377,538 |
$3,632,897 |
| 20 |
$6,617,916 |
$2,408,959
$396,413 |
$3,812,544 |
| 21 |
$6,948,864 |
$2,531,410
$416,237 |
$4,001,217 |
| 22 |
$7,296,342 |
$2,659,977
$437,051 |
$4,199,314 |
| 23 |
$7,661,046 |
$2,794,917
$458,897 |
$4,407,232 |
| 24 |
$8,044,194 |
$2,936,682
$481,847 |
$4,625,665 |
| 25 |
$8,446,308 |
$3,085,464
$505,934 |
$4,854,910 |
| 26 |
$8,868,780 |
$3,241,779
$531,240 |
$5,095,761 |
| 27 |
$9,312,132 |
$3,405,819
$557,797 |
$5,348,516 |
| 28 |
$9,777,756 |
$3,578,100
$585,688 |
$5,613,968 |
| 29 |
$10,266,696 |
$3,759,008
$614,975 |
$5,892,713 |
| 30 |
$10,779,996 |
$3,948,929
$645,722 |
$6,185,345 |
|
|
