The jackpot for the Powerball draw on Wed Jun 24, 2026, is projected to be $327 Million, with an option for a cash payout of $148 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 Wed Jun 24, 2026 |
|---|
| Draw Date | Wed Jun 24, 2026 | | Projected Jackpot | $327,000,000 | | Cash Value | $148,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $148,000,000 | | Federal Tax(24%) | $35,520,000 | | Additional Federal Tax | $19,200,330 | | State Tax(5.99%) | $8,865,200 | | Net Lumpsum Payment | $84,414,470 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,921,677 |
$1,781,351
$294,808 |
$2,845,518 |
| 2 |
$5,167,908 |
$1,872,456
$309,558 |
$2,985,894 |
| 3 |
$5,426,238 |
$1,968,038
$325,032 |
$3,133,168 |
| 4 |
$5,697,648 |
$2,068,460
$341,289 |
$3,287,899 |
| 5 |
$5,982,465 |
$2,173,842
$358,350 |
$3,450,273 |
| 6 |
$6,281,670 |
$2,284,548
$376,272 |
$3,620,850 |
| 7 |
$6,595,590 |
$2,400,699
$395,076 |
$3,799,815 |
| 8 |
$6,925,533 |
$2,522,778
$414,839 |
$3,987,916 |
| 9 |
$7,271,826 |
$2,650,906
$435,582 |
$4,185,338 |
| 10 |
$7,635,450 |
$2,785,447
$457,363 |
$4,392,640 |
| 11 |
$8,017,059 |
$2,926,642
$480,222 |
$4,610,195 |
| 12 |
$8,417,961 |
$3,074,976
$504,236 |
$4,838,749 |
| 13 |
$8,838,810 |
$3,230,690
$529,445 |
$5,078,675 |
| 14 |
$9,280,914 |
$3,394,269
$555,927 |
$5,330,718 |
| 15 |
$9,744,927 |
$3,565,953
$583,721 |
$5,595,253 |
| 16 |
$10,232,157 |
$3,746,228
$612,906 |
$5,873,023 |
| 17 |
$10,743,585 |
$3,935,457
$643,541 |
$6,164,587 |
| 18 |
$11,280,846 |
$4,134,243
$675,723 |
$6,470,880 |
| 19 |
$11,844,921 |
$4,342,951
$709,511 |
$6,792,459 |
| 20 |
$12,437,118 |
$4,562,064
$744,983 |
$7,130,071 |
| 21 |
$13,059,072 |
$4,792,187
$782,238 |
$7,484,647 |
| 22 |
$13,712,091 |
$5,033,804
$821,354 |
$7,856,933 |
| 23 |
$14,397,483 |
$5,287,399
$862,409 |
$8,247,675 |
| 24 |
$15,117,537 |
$5,553,819
$905,540 |
$8,658,178 |
| 25 |
$15,873,234 |
$5,833,427
$950,807 |
$9,089,000 |
| 26 |
$16,667,190 |
$6,127,191
$998,365 |
$9,541,634 |
| 27 |
$17,500,386 |
$6,435,473
$1,048,273 |
$10,016,640 |
| 28 |
$18,375,438 |
$6,759,242
$1,100,689 |
$10,515,507 |
| 29 |
$19,294,308 |
$7,099,224
$1,155,729 |
$11,039,355 |
| 30 |
$20,258,958 |
$7,456,145
$1,213,512 |
$11,589,301 |
|
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