The jackpot for the Powerball draw on Wed Apr 15, 2026, is projected to be $58 Million, with an option for a cash payout of $26.4 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 Apr 15, 2026 |
|---|
| Draw Date | Wed Apr 15, 2026 | | Projected Jackpot | $58,000,000 | | Cash Value | $26,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $26,400,000 | | Federal Tax(24%) | $6,336,000 | | Additional Federal Tax | $3,392,330 | | State Tax(5.99%) | $1,581,360 | | Net Lumpsum Payment | $15,090,310 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$872,958 |
$283,325
$52,290 |
$537,343 |
| 2 |
$916,632 |
$299,484
$54,906 |
$562,242 |
| 3 |
$962,452 |
$316,438
$57,651 |
$588,363 |
| 4 |
$1,010,592 |
$334,249
$60,534 |
$615,809 |
| 5 |
$1,061,110 |
$352,941
$63,560 |
$644,609 |
| 6 |
$1,114,180 |
$372,577
$66,739 |
$674,864 |
| 7 |
$1,169,860 |
$393,179
$70,075 |
$706,606 |
| 8 |
$1,228,382 |
$414,832
$73,580 |
$739,970 |
| 9 |
$1,289,804 |
$437,558
$77,259 |
$774,987 |
| 10 |
$1,354,300 |
$461,421
$81,123 |
$811,756 |
| 11 |
$1,421,986 |
$486,465
$85,177 |
$850,344 |
| 12 |
$1,493,094 |
$512,775
$89,436 |
$890,883 |
| 13 |
$1,567,740 |
$540,394
$93,908 |
$933,438 |
| 14 |
$1,646,156 |
$569,408
$98,605 |
$978,143 |
| 15 |
$1,728,458 |
$599,860
$103,535 |
$1,025,063 |
| 16 |
$1,814,878 |
$631,835
$108,711 |
$1,074,332 |
| 17 |
$1,905,590 |
$665,399
$114,145 |
$1,126,046 |
| 18 |
$2,000,884 |
$700,657
$119,853 |
$1,180,374 |
| 19 |
$2,100,934 |
$737,676
$125,846 |
$1,237,412 |
| 20 |
$2,205,972 |
$776,540
$132,138 |
$1,297,294 |
| 21 |
$2,316,288 |
$817,357
$138,746 |
$1,360,185 |
| 22 |
$2,432,114 |
$860,213
$145,684 |
$1,426,217 |
| 23 |
$2,553,682 |
$905,193
$152,966 |
$1,495,523 |
| 24 |
$2,681,398 |
$952,448
$160,616 |
$1,568,334 |
| 25 |
$2,815,436 |
$1,002,042
$168,645 |
$1,644,749 |
| 26 |
$2,956,260 |
$1,054,147
$177,080 |
$1,725,033 |
| 27 |
$3,104,044 |
$1,108,827
$185,932 |
$1,809,285 |
| 28 |
$3,259,252 |
$1,166,254
$195,229 |
$1,897,769 |
| 29 |
$3,422,232 |
$1,226,556
$204,992 |
$1,990,684 |
| 30 |
$3,593,332 |
$1,289,863
$215,241 |
$2,088,228 |
|
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