The jackpot for the Powerball draw on Mon Apr 20, 2026, is projected to be $87 Million, with an option for a cash payout of $39.7 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 Apr 20, 2026 |
|---|
| Draw Date | Mon Apr 20, 2026 | | Projected Jackpot | $87,000,000 | | Cash Value | $39,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $39,700,000 | | Federal Tax(24%) | $9,528,000 | | Additional Federal Tax | $5,121,330 | | State Tax(5.99%) | $2,378,030 | | Net Lumpsum Payment | $22,672,640 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,309,437 |
$444,822
$78,435 |
$786,180 |
| 2 |
$1,374,948 |
$469,061
$82,359 |
$823,528 |
| 3 |
$1,443,678 |
$494,491
$86,476 |
$862,711 |
| 4 |
$1,515,888 |
$521,209
$90,802 |
$903,877 |
| 5 |
$1,591,665 |
$549,246
$95,341 |
$947,078 |
| 6 |
$1,671,270 |
$578,700
$100,109 |
$992,461 |
| 7 |
$1,754,790 |
$609,603
$105,112 |
$1,040,075 |
| 8 |
$1,842,573 |
$642,082
$110,370 |
$1,090,121 |
| 9 |
$1,934,706 |
$676,172
$115,889 |
$1,142,645 |
| 10 |
$2,031,450 |
$711,967
$121,684 |
$1,197,799 |
| 11 |
$2,132,979 |
$749,533
$127,765 |
$1,255,681 |
| 12 |
$2,239,641 |
$788,998
$134,154 |
$1,316,489 |
| 13 |
$2,351,610 |
$830,426
$140,861 |
$1,380,323 |
| 14 |
$2,469,234 |
$873,947
$147,907 |
$1,447,380 |
| 15 |
$2,592,687 |
$919,625
$155,302 |
$1,517,760 |
| 16 |
$2,722,317 |
$967,588
$163,067 |
$1,591,662 |
| 17 |
$2,858,385 |
$1,017,933
$171,217 |
$1,669,235 |
| 18 |
$3,001,326 |
$1,070,821
$179,779 |
$1,750,726 |
| 19 |
$3,151,401 |
$1,126,349
$188,769 |
$1,836,283 |
| 20 |
$3,308,958 |
$1,184,645
$198,207 |
$1,926,106 |
| 21 |
$3,474,432 |
$1,245,870
$208,118 |
$2,020,444 |
| 22 |
$3,648,171 |
$1,310,154
$218,525 |
$2,119,492 |
| 23 |
$3,830,523 |
$1,377,624
$229,448 |
$2,223,451 |
| 24 |
$4,022,097 |
$1,448,506
$240,924 |
$2,332,667 |
| 25 |
$4,223,154 |
$1,522,897
$252,967 |
$2,447,290 |
| 26 |
$4,434,390 |
$1,601,055
$265,620 |
$2,567,715 |
| 27 |
$4,656,066 |
$1,683,075
$278,898 |
$2,694,093 |
| 28 |
$4,888,878 |
$1,769,215
$292,844 |
$2,826,819 |
| 29 |
$5,133,348 |
$1,859,669
$307,488 |
$2,966,191 |
| 30 |
$5,389,998 |
$1,954,630
$322,861 |
$3,112,507 |
|
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