The jackpot for the MEGA Millions draw on Tue Apr 1, 2025, is projected to be $29 Million, with an option for a cash payout of $13.3 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 Apr 1, 2025 |
|---|
| Draw Date | Tue Apr 1, 2025 | | Projected Jackpot | $29,000,000 | | Cash Value | $13,300,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $13,300,000 | | Federal Tax(24%) | $3,192,000 | | Additional Federal Tax | $1,689,330 | | State Tax(5.99%) | $796,670 | | Net Lumpsum Payment | $7,622,000 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$436,479 |
$121,828
$26,145 |
$288,506 |
| 2 |
$458,316 |
$129,907
$27,453 |
$300,956 |
| 3 |
$481,226 |
$138,384
$28,825 |
$314,017 |
| 4 |
$505,296 |
$147,290
$30,267 |
$327,739 |
| 5 |
$530,555 |
$156,636
$31,780 |
$342,139 |
| 6 |
$557,090 |
$166,454
$33,370 |
$357,266 |
| 7 |
$584,930 |
$176,754
$35,037 |
$373,139 |
| 8 |
$614,191 |
$187,581
$36,790 |
$389,820 |
| 9 |
$644,902 |
$198,944
$38,630 |
$407,328 |
| 10 |
$677,150 |
$210,876
$40,561 |
$425,713 |
| 11 |
$710,993 |
$223,398
$42,588 |
$445,007 |
| 12 |
$746,547 |
$236,553
$44,718 |
$465,276 |
| 13 |
$783,870 |
$250,362
$46,954 |
$486,554 |
| 14 |
$823,078 |
$264,869
$49,302 |
$508,907 |
| 15 |
$864,229 |
$280,095
$51,767 |
$532,367 |
| 16 |
$907,439 |
$296,083
$54,356 |
$557,000 |
| 17 |
$952,795 |
$312,865
$57,072 |
$582,858 |
| 18 |
$1,000,442 |
$330,494
$59,926 |
$610,022 |
| 19 |
$1,050,467 |
$349,003
$62,923 |
$638,541 |
| 20 |
$1,102,986 |
$368,435
$66,069 |
$668,482 |
| 21 |
$1,158,144 |
$388,844
$69,373 |
$699,927 |
| 22 |
$1,216,057 |
$410,271
$72,842 |
$732,944 |
| 23 |
$1,276,841 |
$432,762
$76,483 |
$767,596 |
| 24 |
$1,340,699 |
$456,389
$80,308 |
$804,002 |
| 25 |
$1,407,718 |
$481,186
$84,322 |
$842,210 |
| 26 |
$1,478,130 |
$507,238
$88,540 |
$882,352 |
| 27 |
$1,552,022 |
$534,579
$92,966 |
$924,477 |
| 28 |
$1,629,626 |
$563,292
$97,615 |
$968,719 |
| 29 |
$1,711,116 |
$593,443
$102,496 |
$1,015,177 |
| 30 |
$1,796,666 |
$625,097
$107,620 |
$1,063,949 |
|
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