The jackpot for the Powerball draw on Wed Jul 22, 2026, is projected to be $567 Million, with an option for a cash payout of $251.8 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 Jul 22, 2026 |
|---|
| Draw Date | Wed Jul 22, 2026 | | Projected Jackpot | $567,000,000 | | Cash Value | $251,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $251,800,000 | | Federal Tax(24%) | $60,432,000 | | Additional Federal Tax | $32,694,330 | | State Tax(5.99%) | $15,082,820 | | Net Lumpsum Payment | $143,590,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$8,533,917 |
$3,117,880
$511,182 |
$4,904,855 |
| 2 |
$8,960,868 |
$3,275,852
$536,756 |
$5,148,260 |
| 3 |
$9,408,798 |
$3,441,586
$563,587 |
$5,403,625 |
| 4 |
$9,879,408 |
$3,615,711
$591,777 |
$5,671,920 |
| 5 |
$10,373,265 |
$3,798,438
$621,359 |
$5,953,468 |
| 6 |
$10,892,070 |
$3,990,396
$652,435 |
$6,249,239 |
| 7 |
$11,436,390 |
$4,191,795
$685,040 |
$6,559,555 |
| 8 |
$12,008,493 |
$4,403,473
$719,309 |
$6,885,711 |
| 9 |
$12,608,946 |
$4,625,640
$755,276 |
$7,228,030 |
| 10 |
$13,239,450 |
$4,858,927
$793,043 |
$7,587,480 |
| 11 |
$13,901,139 |
$5,103,752
$832,678 |
$7,964,709 |
| 12 |
$14,596,281 |
$5,360,954
$874,317 |
$8,361,010 |
| 13 |
$15,326,010 |
$5,630,954
$918,028 |
$8,777,028 |
| 14 |
$16,092,594 |
$5,914,590
$963,946 |
$9,214,058 |
| 15 |
$16,897,167 |
$6,212,282
$1,012,140 |
$9,672,745 |
| 16 |
$17,741,997 |
$6,524,869
$1,062,746 |
$10,154,382 |
| 17 |
$18,628,785 |
$6,852,981
$1,115,864 |
$10,659,940 |
| 18 |
$19,560,366 |
$7,197,666
$1,171,666 |
$11,191,034 |
| 19 |
$20,538,441 |
$7,559,554
$1,230,253 |
$11,748,634 |
| 20 |
$21,565,278 |
$7,939,483
$1,291,760 |
$12,334,035 |
| 21 |
$22,643,712 |
$8,338,504
$1,356,358 |
$12,948,850 |
| 22 |
$23,776,011 |
$8,757,454
$1,424,183 |
$13,594,374 |
| 23 |
$24,964,443 |
$9,197,174
$1,495,370 |
$14,271,899 |
| 24 |
$26,212,977 |
$9,659,132
$1,570,157 |
$14,983,688 |
| 25 |
$27,523,314 |
$10,143,957
$1,648,647 |
$15,730,710 |
| 26 |
$28,899,990 |
$10,653,327
$1,731,109 |
$16,515,554 |
| 27 |
$30,344,706 |
$11,187,872
$1,817,648 |
$17,339,186 |
| 28 |
$31,861,998 |
$11,749,270
$1,908,534 |
$18,204,194 |
| 29 |
$33,455,268 |
$12,338,780
$2,003,971 |
$19,112,517 |
| 30 |
$35,127,918 |
$12,957,660
$2,104,162 |
$20,066,096 |
|
|
