The jackpot for the MEGA Millions draw on Fri Oct 16, 2026, is projected to be $403 Million, with an option for a cash payout of $162.1 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 Oct 16, 2026 |
|---|
| Draw Date | Fri Oct 16, 2026 | | Projected Jackpot | $403,000,000 | | Cash Value | $162,100,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $162,100,000 | | Federal Tax(24%) | $38,904,000 | | Additional Federal Tax | $21,033,330 | | State Tax(5.99%) | $9,709,790 | | Net Lumpsum Payment | $92,452,880 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$6,065,553 |
$2,204,585
$363,327 |
$3,497,641 |
| 2 |
$6,369,012 |
$2,316,865
$381,504 |
$3,670,643 |
| 3 |
$6,687,382 |
$2,434,662
$400,574 |
$3,852,146 |
| 4 |
$7,021,872 |
$2,558,423
$420,610 |
$4,042,839 |
| 5 |
$7,372,885 |
$2,688,298
$441,636 |
$4,242,951 |
| 6 |
$7,741,630 |
$2,824,733
$463,724 |
$4,453,173 |
| 7 |
$8,128,510 |
$2,967,879
$486,898 |
$4,673,733 |
| 8 |
$8,535,137 |
$3,118,331
$511,255 |
$4,905,551 |
| 9 |
$8,961,914 |
$3,276,239
$536,819 |
$5,148,856 |
| 10 |
$9,410,050 |
$3,442,049
$563,662 |
$5,404,339 |
| 11 |
$9,880,351 |
$3,616,060
$591,833 |
$5,672,458 |
| 12 |
$10,374,429 |
$3,798,869
$621,428 |
$5,954,132 |
| 13 |
$10,893,090 |
$3,990,774
$652,496 |
$6,249,820 |
| 14 |
$11,437,946 |
$4,192,370
$685,133 |
$6,560,443 |
| 15 |
$12,009,803 |
$4,403,957
$719,387 |
$6,886,459 |
| 16 |
$12,610,273 |
$4,626,131
$755,355 |
$7,228,787 |
| 17 |
$13,240,565 |
$4,859,339
$793,110 |
$7,588,116 |
| 18 |
$13,902,694 |
$5,104,327
$832,771 |
$7,965,596 |
| 19 |
$14,597,869 |
$5,361,542
$874,412 |
$8,361,915 |
| 20 |
$15,327,702 |
$5,631,580
$918,129 |
$8,777,993 |
| 21 |
$16,094,208 |
$5,915,187
$964,043 |
$9,214,978 |
| 22 |
$16,898,999 |
$6,212,960
$1,012,250 |
$9,673,789 |
| 23 |
$17,743,687 |
$6,525,495
$1,062,847 |
$10,155,345 |
| 24 |
$18,631,093 |
$6,853,835
$1,116,002 |
$10,661,256 |
| 25 |
$19,562,426 |
$7,198,428
$1,171,789 |
$11,192,209 |
| 26 |
$20,540,910 |
$7,560,467
$1,230,401 |
$11,750,042 |
| 27 |
$21,567,754 |
$7,940,399
$1,291,908 |
$12,335,447 |
| 28 |
$22,646,182 |
$8,339,418
$1,356,506 |
$12,950,258 |
| 29 |
$23,778,612 |
$8,758,417
$1,424,339 |
$13,595,856 |
| 30 |
$24,967,462 |
$9,198,291
$1,495,551 |
$14,273,620 |
|
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