The jackpot for the MEGA Millions draw on Tue Jan 20, 2026, is projected to be $250 Million, with an option for a cash payout of $113.5 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Tue Jan 20, 2026 |
|---|
| Draw Date | Tue Jan 20, 2026 | | Projected Jackpot | $250,000,000 | | Cash Value | $113,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $113,500,000 | | Federal Tax(24%) | $27,240,000 | | Additional Federal Tax | $14,715,330 | | State Tax(5.99%) | $6,798,650 | | Net Lumpsum Payment | $64,746,020 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$3,762,750 |
$1,352,548
$225,389 |
$2,184,813 |
| 2 |
$3,951,000 |
$1,422,200
$236,665 |
$2,292,135 |
| 3 |
$4,148,500 |
$1,495,275
$248,495 |
$2,404,730 |
| 4 |
$4,356,000 |
$1,572,050
$260,924 |
$2,523,026 |
| 5 |
$4,573,750 |
$1,652,618
$273,968 |
$2,647,164 |
| 6 |
$4,802,500 |
$1,737,255
$287,670 |
$2,777,575 |
| 7 |
$5,042,500 |
$1,826,055
$302,046 |
$2,914,399 |
| 8 |
$5,294,750 |
$1,919,388
$317,156 |
$3,058,206 |
| 9 |
$5,559,500 |
$2,017,345
$333,014 |
$3,209,141 |
| 10 |
$5,837,500 |
$2,120,205
$349,666 |
$3,367,629 |
| 11 |
$6,129,250 |
$2,228,153
$367,142 |
$3,533,955 |
| 12 |
$6,435,750 |
$2,341,558
$385,501 |
$3,708,691 |
| 13 |
$6,757,500 |
$2,460,605
$404,774 |
$3,892,121 |
| 14 |
$7,095,500 |
$2,585,665
$425,020 |
$4,084,815 |
| 15 |
$7,450,250 |
$2,716,923
$446,270 |
$4,287,057 |
| 16 |
$7,822,750 |
$2,854,748
$468,583 |
$4,499,419 |
| 17 |
$8,213,750 |
$2,999,418
$492,004 |
$4,722,328 |
| 18 |
$8,624,500 |
$3,151,395
$516,608 |
$4,956,497 |
| 19 |
$9,055,750 |
$3,310,958
$542,439 |
$5,202,353 |
| 20 |
$9,508,500 |
$3,478,475
$569,559 |
$5,460,466 |
| 21 |
$9,984,000 |
$3,654,410
$598,042 |
$5,731,548 |
| 22 |
$10,483,250 |
$3,839,133
$627,947 |
$6,016,170 |
| 23 |
$11,007,250 |
$4,033,013
$659,334 |
$6,314,903 |
| 24 |
$11,557,750 |
$4,236,698
$692,309 |
$6,628,743 |
| 25 |
$12,135,500 |
$4,450,465
$726,916 |
$6,958,119 |
| 26 |
$12,742,500 |
$4,675,055
$763,276 |
$7,304,169 |
| 27 |
$13,379,500 |
$4,910,745
$801,432 |
$7,667,323 |
| 28 |
$14,048,500 |
$5,158,275
$841,505 |
$8,048,720 |
| 29 |
$14,751,000 |
$5,418,200
$883,585 |
$8,449,215 |
| 30 |
$15,488,500 |
$5,691,075
$927,761 |
$8,869,664 |
|
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