The jackpot for the MEGA Millions draw on Tue Feb 25, 2025, is projected to be $181 Million, with an option for a cash payout of $82.7 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 Tue Feb 25, 2025 |
|---|
| Draw Date | Tue Feb 25, 2025 | | Projected Jackpot | $181,000,000 | | Cash Value | $82,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $82,700,000 | | Federal Tax(24%) | $19,848,000 | | Additional Federal Tax | $10,711,330 | | State Tax(5.99%) | $4,953,730 | | Net Lumpsum Payment | $47,186,940 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,724,231 |
$968,296
$163,181 |
$1,592,754 |
| 2 |
$2,860,524 |
$1,018,724
$171,345 |
$1,670,455 |
| 3 |
$3,003,514 |
$1,071,631
$179,910 |
$1,751,973 |
| 4 |
$3,153,744 |
$1,127,216
$188,909 |
$1,837,619 |
| 5 |
$3,311,395 |
$1,185,547
$198,353 |
$1,927,495 |
| 6 |
$3,477,010 |
$1,246,824
$208,273 |
$2,021,913 |
| 7 |
$3,650,770 |
$1,311,115
$218,681 |
$2,120,974 |
| 8 |
$3,833,399 |
$1,378,688
$229,621 |
$2,225,090 |
| 9 |
$4,025,078 |
$1,449,609
$241,102 |
$2,334,367 |
| 10 |
$4,226,350 |
$1,524,080
$253,158 |
$2,449,112 |
| 11 |
$4,437,577 |
$1,602,234
$265,811 |
$2,569,532 |
| 12 |
$4,659,483 |
$1,684,339
$279,103 |
$2,696,041 |
| 13 |
$4,892,430 |
$1,770,529
$293,057 |
$2,828,844 |
| 14 |
$5,137,142 |
$1,861,073
$307,715 |
$2,968,354 |
| 15 |
$5,393,981 |
$1,956,103
$323,099 |
$3,114,779 |
| 16 |
$5,663,671 |
$2,055,889
$339,254 |
$3,268,528 |
| 17 |
$5,946,755 |
$2,160,630
$356,211 |
$3,429,914 |
| 18 |
$6,244,138 |
$2,270,661
$374,024 |
$3,599,453 |
| 19 |
$6,556,363 |
$2,386,185
$392,726 |
$3,777,452 |
| 20 |
$6,884,154 |
$2,507,467
$412,361 |
$3,964,326 |
| 21 |
$7,228,416 |
$2,634,844
$432,982 |
$4,160,590 |
| 22 |
$7,589,873 |
$2,768,583
$454,633 |
$4,366,657 |
| 23 |
$7,969,249 |
$2,908,953
$477,358 |
$4,582,938 |
| 24 |
$8,367,811 |
$3,056,420
$501,232 |
$4,810,159 |
| 25 |
$8,786,102 |
$3,211,188
$526,288 |
$5,048,626 |
| 26 |
$9,225,570 |
$3,373,791
$552,612 |
$5,299,167 |
| 27 |
$9,686,758 |
$3,544,431
$580,237 |
$5,562,090 |
| 28 |
$10,171,114 |
$3,723,643
$609,250 |
$5,838,221 |
| 29 |
$10,679,724 |
$3,911,828
$639,715 |
$6,128,181 |
| 30 |
$11,213,674 |
$4,109,390
$671,699 |
$6,432,585 |
|
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