The jackpot for the Powerball draw on Mon May 12, 2025, is projected to be $93 Million, with an option for a cash payout of $42.3 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 Mon May 12, 2025 |
|---|
| Draw Date | Mon May 12, 2025 | | Projected Jackpot | $93,000,000 | | Cash Value | $42,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $42,300,000 | | Federal Tax(24%) | $10,152,000 | | Additional Federal Tax | $5,459,330 | | State Tax(5.99%) | $2,533,770 | | Net Lumpsum Payment | $24,154,900 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,399,743 |
$478,235
$83,845 |
$837,663 |
| 2 |
$1,469,772 |
$504,146
$88,039 |
$877,587 |
| 3 |
$1,543,242 |
$531,330
$92,440 |
$919,472 |
| 4 |
$1,620,432 |
$559,890
$97,064 |
$963,478 |
| 5 |
$1,701,435 |
$589,861
$101,916 |
$1,009,658 |
| 6 |
$1,786,530 |
$621,346
$107,013 |
$1,058,171 |
| 7 |
$1,875,810 |
$654,380
$112,361 |
$1,109,069 |
| 8 |
$1,969,647 |
$689,100
$117,982 |
$1,162,565 |
| 9 |
$2,068,134 |
$725,540
$123,881 |
$1,218,713 |
| 10 |
$2,171,550 |
$763,804
$130,076 |
$1,277,670 |
| 11 |
$2,280,081 |
$803,960
$136,577 |
$1,339,544 |
| 12 |
$2,394,099 |
$846,147
$143,407 |
$1,404,545 |
| 13 |
$2,513,790 |
$890,433
$150,576 |
$1,472,781 |
| 14 |
$2,639,526 |
$936,955
$158,108 |
$1,544,463 |
| 15 |
$2,771,493 |
$985,783
$166,012 |
$1,619,698 |
| 16 |
$2,910,063 |
$1,037,054
$174,313 |
$1,698,696 |
| 17 |
$3,055,515 |
$1,090,871
$183,025 |
$1,781,619 |
| 18 |
$3,208,314 |
$1,147,407
$192,178 |
$1,868,729 |
| 19 |
$3,368,739 |
$1,206,764
$201,787 |
$1,960,188 |
| 20 |
$3,537,162 |
$1,269,080
$211,876 |
$2,056,206 |
| 21 |
$3,714,048 |
$1,334,528
$222,471 |
$2,157,049 |
| 22 |
$3,899,769 |
$1,403,245
$233,596 |
$2,262,928 |
| 23 |
$4,094,697 |
$1,475,368
$245,272 |
$2,374,057 |
| 24 |
$4,299,483 |
$1,551,139
$257,539 |
$2,490,805 |
| 25 |
$4,514,406 |
$1,630,661
$270,413 |
$2,613,332 |
| 26 |
$4,740,210 |
$1,714,208
$283,939 |
$2,742,063 |
| 27 |
$4,977,174 |
$1,801,885
$298,133 |
$2,877,156 |
| 28 |
$5,226,042 |
$1,893,966
$313,040 |
$3,019,036 |
| 29 |
$5,487,372 |
$1,990,658
$328,694 |
$3,168,020 |
| 30 |
$5,761,722 |
$2,092,168
$345,127 |
$3,324,427 |
|
|
