The jackpot for the Powerball draw on Sat Nov 30, 2024, is projected to be $214 Million, with an option for a cash payout of $99 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 Nov 30, 2024 |
|---|
| Draw Date | Sat Nov 30, 2024 | | Projected Jackpot | $214,000,000 | | Cash Value | $99,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $99,000,000 | | Federal Tax(24%) | $23,760,000 | | Additional Federal Tax | $12,830,330 | | State Tax(5.99%) | $5,930,100 | | Net Lumpsum Payment | $56,479,570 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,220,914 |
$1,152,069
$192,933 |
$1,875,912 |
| 2 |
$3,382,056 |
$1,211,691
$202,585 |
$1,967,780 |
| 3 |
$3,551,116 |
$1,274,243
$212,712 |
$2,064,161 |
| 4 |
$3,728,736 |
$1,339,963
$223,351 |
$2,165,422 |
| 5 |
$3,915,130 |
$1,408,928
$234,516 |
$2,271,686 |
| 6 |
$4,110,940 |
$1,481,378
$246,245 |
$2,383,317 |
| 7 |
$4,316,380 |
$1,557,391
$258,551 |
$2,500,438 |
| 8 |
$4,532,306 |
$1,637,284
$271,485 |
$2,623,537 |
| 9 |
$4,758,932 |
$1,721,135
$285,060 |
$2,752,737 |
| 10 |
$4,996,900 |
$1,809,183
$299,314 |
$2,888,403 |
| 11 |
$5,246,638 |
$1,901,586
$314,274 |
$3,030,778 |
| 12 |
$5,509,002 |
$1,998,661
$329,989 |
$3,180,352 |
| 13 |
$5,784,420 |
$2,100,566
$346,487 |
$3,337,367 |
| 14 |
$6,073,748 |
$2,207,617
$363,818 |
$3,502,313 |
| 15 |
$6,377,414 |
$2,319,974
$382,007 |
$3,675,433 |
| 16 |
$6,696,274 |
$2,437,952
$401,107 |
$3,857,215 |
| 17 |
$7,030,970 |
$2,561,789
$421,155 |
$4,048,026 |
| 18 |
$7,382,572 |
$2,691,882
$442,216 |
$4,248,474 |
| 19 |
$7,751,722 |
$2,828,468
$464,328 |
$4,458,926 |
| 20 |
$8,139,276 |
$2,971,863
$487,543 |
$4,679,870 |
| 21 |
$8,546,304 |
$3,122,463
$511,924 |
$4,911,917 |
| 22 |
$8,973,662 |
$3,280,585
$537,522 |
$5,155,555 |
| 23 |
$9,422,206 |
$3,446,547
$564,390 |
$5,411,269 |
| 24 |
$9,893,434 |
$3,620,901
$592,617 |
$5,679,916 |
| 25 |
$10,387,988 |
$3,803,886
$622,240 |
$5,961,862 |
| 26 |
$10,907,580 |
$3,996,135
$653,364 |
$6,258,081 |
| 27 |
$11,452,852 |
$4,197,886
$686,026 |
$6,568,940 |
| 28 |
$12,025,516 |
$4,409,771
$720,328 |
$6,895,417 |
| 29 |
$12,626,856 |
$4,632,267
$756,349 |
$7,238,240 |
| 30 |
$13,258,156 |
$4,865,848
$794,164 |
$7,598,144 |
|
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