The jackpot for the Powerball draw on Sat Oct 24, 2026, is projected to be $674 Million, with an option for a cash payout of $283.9 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 Oct 24, 2026 |
|---|
| Draw Date | Sat Oct 24, 2026 | | Projected Jackpot | $674,000,000 | | Cash Value | $283,900,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $283,900,000 | | Federal Tax(24%) | $68,136,000 | | Additional Federal Tax | $36,867,330 | | State Tax(5.99%) | $17,005,610 | | Net Lumpsum Payment | $161,891,060 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$10,144,374 |
$3,713,749
$607,648 |
$5,822,977 |
| 2 |
$10,651,896 |
$3,901,532
$638,049 |
$6,112,315 |
| 3 |
$11,184,356 |
$4,098,542
$669,943 |
$6,415,871 |
| 4 |
$11,743,776 |
$4,305,528
$703,452 |
$6,734,796 |
| 5 |
$12,330,830 |
$4,522,737
$738,617 |
$7,069,476 |
| 6 |
$12,947,540 |
$4,750,920
$775,558 |
$7,421,062 |
| 7 |
$13,594,580 |
$4,990,325
$814,315 |
$7,789,940 |
| 8 |
$14,274,646 |
$5,241,949
$855,051 |
$8,177,646 |
| 9 |
$14,988,412 |
$5,506,043
$897,806 |
$8,584,563 |
| 10 |
$15,737,900 |
$5,783,353
$942,700 |
$9,011,847 |
| 11 |
$16,524,458 |
$6,074,380
$989,815 |
$9,460,263 |
| 12 |
$17,350,782 |
$6,380,120
$1,039,312 |
$9,931,350 |
| 13 |
$18,218,220 |
$6,701,072
$1,091,271 |
$10,425,877 |
| 14 |
$19,129,468 |
$7,038,234
$1,145,855 |
$10,945,379 |
| 15 |
$20,085,874 |
$7,392,104
$1,203,144 |
$11,490,626 |
| 16 |
$21,090,134 |
$7,763,680
$1,263,299 |
$12,063,155 |
| 17 |
$22,144,270 |
$8,153,710
$1,326,442 |
$12,664,118 |
| 18 |
$23,251,652 |
$8,563,442
$1,392,774 |
$13,295,436 |
| 19 |
$24,414,302 |
$8,993,622
$1,462,417 |
$13,958,263 |
| 20 |
$25,634,916 |
$9,445,249
$1,535,531 |
$14,654,136 |
| 21 |
$26,916,864 |
$9,919,570
$1,612,320 |
$15,384,974 |
| 22 |
$28,262,842 |
$10,417,582
$1,692,944 |
$16,152,316 |
| 23 |
$29,675,546 |
$10,940,282
$1,777,565 |
$16,957,699 |
| 24 |
$31,159,694 |
$11,489,417
$1,866,466 |
$17,803,811 |
| 25 |
$32,717,308 |
$12,065,734
$1,959,767 |
$18,691,807 |
| 26 |
$34,353,780 |
$12,671,229
$2,057,791 |
$19,624,760 |
| 27 |
$36,071,132 |
$13,306,649
$2,160,661 |
$20,603,822 |
| 28 |
$37,874,756 |
$13,973,990
$2,268,698 |
$21,632,068 |
| 29 |
$39,768,696 |
$14,674,748
$2,382,145 |
$22,711,803 |
| 30 |
$41,756,996 |
$15,410,419
$2,501,244 |
$23,845,333 |
|
|
