The jackpot for the Powerball draw on Mon Oct 26, 2026, is projected to be $687 Million, with an option for a cash payout of $294.7 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 Mon Oct 26, 2026 |
|---|
| Draw Date | Mon Oct 26, 2026 | | Projected Jackpot | $687,000,000 | | Cash Value | $294,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $294,700,000 | | Federal Tax(24%) | $70,728,000 | | Additional Federal Tax | $38,271,330 | | State Tax(5.99%) | $17,652,530 | | Net Lumpsum Payment | $168,048,140 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,340,037 |
$3,786,144
$619,368 |
$5,934,525 |
| 2 |
$10,857,348 |
$3,977,549
$650,355 |
$6,229,444 |
| 3 |
$11,400,078 |
$4,178,359
$682,865 |
$6,538,854 |
| 4 |
$11,970,288 |
$4,389,337
$717,020 |
$6,863,931 |
| 5 |
$12,568,665 |
$4,610,736
$752,863 |
$7,205,066 |
| 6 |
$13,197,270 |
$4,843,320
$790,516 |
$7,563,434 |
| 7 |
$13,856,790 |
$5,087,343
$830,022 |
$7,939,425 |
| 8 |
$14,549,973 |
$5,343,820
$871,543 |
$8,334,610 |
| 9 |
$15,277,506 |
$5,613,008
$915,123 |
$8,749,375 |
| 10 |
$16,041,450 |
$5,895,667
$960,883 |
$9,184,900 |
| 11 |
$16,843,179 |
$6,192,307
$1,008,906 |
$9,641,966 |
| 12 |
$17,685,441 |
$6,503,944
$1,059,358 |
$10,122,139 |
| 13 |
$18,569,610 |
$6,831,086
$1,112,320 |
$10,626,204 |
| 14 |
$19,498,434 |
$7,174,751
$1,167,956 |
$11,155,727 |
| 15 |
$20,473,287 |
$7,535,447
$1,226,350 |
$11,711,490 |
| 16 |
$21,496,917 |
$7,914,190
$1,287,665 |
$12,295,062 |
| 17 |
$22,571,385 |
$8,311,743
$1,352,026 |
$12,907,616 |
| 18 |
$23,700,126 |
$8,729,377
$1,419,638 |
$13,551,111 |
| 19 |
$24,885,201 |
$9,167,855
$1,490,624 |
$14,226,722 |
| 20 |
$26,129,358 |
$9,628,193
$1,565,149 |
$14,936,016 |
| 21 |
$27,436,032 |
$10,111,662
$1,643,418 |
$15,680,952 |
| 22 |
$28,807,971 |
$10,619,280
$1,725,597 |
$16,463,094 |
| 23 |
$30,247,923 |
$11,152,062
$1,811,851 |
$17,284,010 |
| 24 |
$31,760,697 |
$11,711,788
$1,902,466 |
$18,146,443 |
| 25 |
$33,348,354 |
$12,299,221
$1,997,566 |
$19,051,567 |
| 26 |
$35,016,390 |
$12,916,395
$2,097,482 |
$20,002,513 |
| 27 |
$36,766,866 |
$13,564,071
$2,202,335 |
$21,000,460 |
| 28 |
$38,605,278 |
$14,244,283
$2,312,456 |
$22,048,539 |
| 29 |
$40,535,748 |
$14,958,557
$2,428,091 |
$23,149,100 |
| 30 |
$42,562,398 |
$15,708,418
$2,549,488 |
$24,304,492 |
|
|
