The jackpot for the MEGA Millions draw on Fri Jun 27, 2025, is projected to be $348 Million, with an option for a cash payout of $155.5 Million. Should you be the lucky winner of the MEGA Millions 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 MEGA Millions Jackpot/Cash Option for Fri Jun 27, 2025 |
|---|
| Draw Date | Fri Jun 27, 2025 | | Projected Jackpot | $348,000,000 | | Cash Value | $155,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $155,500,000 | | Federal Tax(24%) | $37,320,000 | | Additional Federal Tax | $20,175,330 | | State Tax(5.99%) | $9,314,450 | | Net Lumpsum Payment | $88,690,220 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,237,748 |
$1,898,297
$313,741 |
$3,025,710 |
| 2 |
$5,499,792 |
$1,995,253
$329,438 |
$3,175,101 |
| 3 |
$5,774,712 |
$2,096,974
$345,905 |
$3,331,833 |
| 4 |
$6,063,552 |
$2,203,845
$363,207 |
$3,496,500 |
| 5 |
$6,366,660 |
$2,315,995
$381,363 |
$3,669,302 |
| 6 |
$6,685,080 |
$2,433,810
$400,436 |
$3,850,834 |
| 7 |
$7,019,160 |
$2,557,420
$420,448 |
$4,041,292 |
| 8 |
$7,370,292 |
$2,687,338
$441,480 |
$4,241,474 |
| 9 |
$7,738,824 |
$2,823,695
$463,556 |
$4,451,573 |
| 10 |
$8,125,800 |
$2,966,876
$486,735 |
$4,672,189 |
| 11 |
$8,531,916 |
$3,117,139
$511,062 |
$4,903,715 |
| 12 |
$8,958,564 |
$3,274,999
$536,618 |
$5,146,947 |
| 13 |
$9,406,440 |
$3,440,713
$563,446 |
$5,402,281 |
| 14 |
$9,876,936 |
$3,614,797
$591,628 |
$5,670,511 |
| 15 |
$10,370,748 |
$3,797,507
$621,208 |
$5,952,033 |
| 16 |
$10,889,268 |
$3,989,360
$652,267 |
$6,247,641 |
| 17 |
$11,433,540 |
$4,190,740
$684,869 |
$6,557,931 |
| 18 |
$12,005,304 |
$4,402,293
$719,118 |
$6,883,893 |
| 19 |
$12,605,604 |
$4,624,404
$755,076 |
$7,226,124 |
| 20 |
$13,235,832 |
$4,857,588
$792,826 |
$7,585,418 |
| 21 |
$13,897,728 |
$5,102,490
$832,474 |
$7,962,764 |
| 22 |
$14,592,684 |
$5,359,623
$874,102 |
$8,358,959 |
| 23 |
$15,322,092 |
$5,629,504
$917,793 |
$8,774,795 |
| 24 |
$16,088,388 |
$5,913,034
$963,694 |
$9,211,660 |
| 25 |
$16,892,616 |
$6,210,598
$1,011,868 |
$9,670,150 |
| 26 |
$17,737,560 |
$6,523,228
$1,062,480 |
$10,151,852 |
| 27 |
$18,624,264 |
$6,851,308
$1,115,593 |
$10,657,363 |
| 28 |
$19,555,512 |
$7,195,870
$1,171,375 |
$11,188,267 |
| 29 |
$20,533,392 |
$7,557,685
$1,229,950 |
$11,745,757 |
| 30 |
$21,559,992 |
$7,937,527
$1,291,444 |
$12,331,021 |
|
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