The jackpot for the MEGA Millions draw on Fri Aug 29, 2025, is projected to be $277 Million, with an option for a cash payout of $124.6 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 Aug 29, 2025 |
|---|
| Draw Date | Fri Aug 29, 2025 | | Projected Jackpot | $277,000,000 | | Cash Value | $124,600,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,600,000 | | Federal Tax(24%) | $29,904,000 | | Additional Federal Tax | $16,158,330 | | State Tax(5.99%) | $7,463,540 | | Net Lumpsum Payment | $71,074,130 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,169,127 |
$1,502,907
$249,731 |
$2,416,489 |
| 2 |
$4,377,708 |
$1,580,082
$262,225 |
$2,535,401 |
| 3 |
$4,596,538 |
$1,661,049
$275,333 |
$2,660,156 |
| 4 |
$4,826,448 |
$1,746,116
$289,104 |
$2,791,228 |
| 5 |
$5,067,715 |
$1,835,385
$303,556 |
$2,928,774 |
| 6 |
$5,321,170 |
$1,929,163
$318,738 |
$3,073,269 |
| 7 |
$5,587,090 |
$2,027,554
$334,667 |
$3,224,869 |
| 8 |
$5,866,583 |
$2,130,966
$351,408 |
$3,384,209 |
| 9 |
$6,159,926 |
$2,239,503
$368,980 |
$3,551,443 |
| 10 |
$6,467,950 |
$2,353,472
$387,430 |
$3,727,048 |
| 11 |
$6,791,209 |
$2,473,078
$406,793 |
$3,911,338 |
| 12 |
$7,130,811 |
$2,598,730
$427,136 |
$4,104,945 |
| 13 |
$7,487,310 |
$2,730,635
$448,490 |
$4,308,185 |
| 14 |
$7,861,814 |
$2,869,202
$470,923 |
$4,521,689 |
| 15 |
$8,254,877 |
$3,014,635
$494,467 |
$4,745,775 |
| 16 |
$8,667,607 |
$3,167,345
$519,190 |
$4,981,072 |
| 17 |
$9,100,835 |
$3,327,639
$545,140 |
$5,228,056 |
| 18 |
$9,555,946 |
$3,496,030
$572,401 |
$5,487,515 |
| 19 |
$10,033,771 |
$3,672,826
$601,023 |
$5,759,922 |
| 20 |
$10,535,418 |
$3,858,435
$631,072 |
$6,045,911 |
| 21 |
$11,062,272 |
$4,053,371
$662,630 |
$6,346,271 |
| 22 |
$11,615,441 |
$4,258,044
$695,765 |
$6,661,632 |
| 23 |
$12,196,033 |
$4,472,863
$730,542 |
$6,992,628 |
| 24 |
$12,805,987 |
$4,698,546
$767,079 |
$7,340,362 |
| 25 |
$13,446,134 |
$4,935,400
$805,423 |
$7,705,311 |
| 26 |
$14,118,690 |
$5,184,246
$845,710 |
$8,088,734 |
| 27 |
$14,824,486 |
$5,445,390
$887,987 |
$8,491,109 |
| 28 |
$15,565,738 |
$5,719,653
$932,388 |
$8,913,697 |
| 29 |
$16,344,108 |
$6,007,650
$979,012 |
$9,357,446 |
| 30 |
$17,161,258 |
$6,309,996
$1,027,959 |
$9,823,303 |
|
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