The jackpot for the Powerball draw on Sat Jan 3, 2026, is projected to be $64 Million, with an option for a cash payout of $29.5 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 Jan 3, 2026 |
|---|
| Draw Date | Sat Jan 3, 2026 | | Projected Jackpot | $64,000,000 | | Cash Value | $29,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $29,500,000 | | Federal Tax(24%) | $7,080,000 | | Additional Federal Tax | $3,795,330 | | State Tax(5.99%) | $1,767,050 | | Net Lumpsum Payment | $16,857,620 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$963,264 |
$316,738
$57,700 |
$588,826 |
| 2 |
$1,011,456 |
$334,569
$60,586 |
$616,301 |
| 3 |
$1,062,016 |
$353,276
$63,615 |
$645,125 |
| 4 |
$1,115,136 |
$372,931
$66,797 |
$675,408 |
| 5 |
$1,170,880 |
$393,556
$70,136 |
$707,188 |
| 6 |
$1,229,440 |
$415,223
$73,643 |
$740,574 |
| 7 |
$1,290,880 |
$437,956
$77,324 |
$775,600 |
| 8 |
$1,355,456 |
$461,849
$81,192 |
$812,415 |
| 9 |
$1,423,232 |
$486,926
$85,252 |
$851,054 |
| 10 |
$1,494,400 |
$513,258
$89,515 |
$891,627 |
| 11 |
$1,569,088 |
$540,893
$93,988 |
$934,207 |
| 12 |
$1,647,552 |
$569,925
$98,688 |
$978,939 |
| 13 |
$1,729,920 |
$600,401
$103,622 |
$1,025,897 |
| 14 |
$1,816,448 |
$632,416
$108,805 |
$1,075,227 |
| 15 |
$1,907,264 |
$666,018
$114,245 |
$1,127,001 |
| 16 |
$2,002,624 |
$701,301
$119,957 |
$1,181,366 |
| 17 |
$2,102,720 |
$738,337
$125,953 |
$1,238,430 |
| 18 |
$2,207,872 |
$777,243
$132,252 |
$1,298,377 |
| 19 |
$2,318,272 |
$818,091
$138,864 |
$1,361,317 |
| 20 |
$2,434,176 |
$860,976
$145,807 |
$1,427,393 |
| 21 |
$2,555,904 |
$906,015
$153,099 |
$1,496,790 |
| 22 |
$2,683,712 |
$953,304
$160,754 |
$1,569,654 |
| 23 |
$2,817,856 |
$1,002,937
$168,790 |
$1,646,129 |
| 24 |
$2,958,784 |
$1,055,080
$177,231 |
$1,726,473 |
| 25 |
$3,106,688 |
$1,109,805
$186,091 |
$1,810,792 |
| 26 |
$3,262,080 |
$1,167,300
$195,399 |
$1,899,381 |
| 27 |
$3,425,152 |
$1,227,637
$205,167 |
$1,992,348 |
| 28 |
$3,596,416 |
$1,291,004
$215,425 |
$2,089,987 |
| 29 |
$3,776,256 |
$1,357,545
$226,198 |
$2,192,513 |
| 30 |
$3,965,056 |
$1,427,401
$237,507 |
$2,300,148 |
|
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