The jackpot for the Powerball draw on Sat Mar 7, 2026, is projected to be $35 Million, with an option for a cash payout of $16.5 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 Mar 7, 2026 |
|---|
| Draw Date | Sat Mar 7, 2026 | | Projected Jackpot | $35,000,000 | | Cash Value | $16,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $16,500,000 | | Federal Tax(24%) | $3,960,000 | | Additional Federal Tax | $2,105,330 | | State Tax(5.99%) | $988,350 | | Net Lumpsum Payment | $9,446,320 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$526,785 |
$155,241
$31,554 |
$339,990 |
| 2 |
$553,140 |
$164,992
$33,133 |
$355,015 |
| 3 |
$580,790 |
$175,223
$34,789 |
$370,778 |
| 4 |
$609,840 |
$185,971
$36,529 |
$387,340 |
| 5 |
$640,325 |
$197,251
$38,355 |
$404,719 |
| 6 |
$672,350 |
$209,100
$40,274 |
$422,976 |
| 7 |
$705,950 |
$221,532
$42,286 |
$442,132 |
| 8 |
$741,265 |
$234,598
$44,402 |
$462,265 |
| 9 |
$778,330 |
$248,312
$46,622 |
$483,396 |
| 10 |
$817,250 |
$262,713
$48,953 |
$505,584 |
| 11 |
$858,095 |
$277,826
$51,400 |
$528,869 |
| 12 |
$901,005 |
$293,702
$53,970 |
$553,333 |
| 13 |
$946,050 |
$310,369
$56,668 |
$579,013 |
| 14 |
$993,370 |
$327,877
$59,503 |
$605,990 |
| 15 |
$1,043,035 |
$346,253
$62,478 |
$634,304 |
| 16 |
$1,095,185 |
$365,549
$65,602 |
$664,034 |
| 17 |
$1,149,925 |
$385,803
$68,881 |
$695,241 |
| 18 |
$1,207,430 |
$407,079
$72,325 |
$728,026 |
| 19 |
$1,267,805 |
$429,418
$75,942 |
$762,445 |
| 20 |
$1,331,190 |
$452,871
$79,738 |
$798,581 |
| 21 |
$1,397,760 |
$477,502
$83,726 |
$836,532 |
| 22 |
$1,467,655 |
$503,363
$87,913 |
$876,379 |
| 23 |
$1,541,015 |
$530,506
$92,307 |
$918,202 |
| 24 |
$1,618,085 |
$559,022
$96,923 |
$962,140 |
| 25 |
$1,698,970 |
$588,949
$101,768 |
$1,008,253 |
| 26 |
$1,783,950 |
$620,392
$106,859 |
$1,056,699 |
| 27 |
$1,873,130 |
$653,388
$112,200 |
$1,107,542 |
| 28 |
$1,966,790 |
$688,043
$117,811 |
$1,160,936 |
| 29 |
$2,065,140 |
$724,432
$123,702 |
$1,217,006 |
| 30 |
$2,168,390 |
$762,635
$129,887 |
$1,275,868 |
|
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