The jackpot for the MEGA Millions draw on Fri Aug 8, 2025, is projected to be $166 Million, with an option for a cash payout of $75.2 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 8, 2025 |
|---|
| Draw Date | Fri Aug 8, 2025 | | Projected Jackpot | $166,000,000 | | Cash Value | $75,200,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $75,200,000 | | Federal Tax(24%) | $18,048,000 | | Additional Federal Tax | $9,736,330 | | State Tax(5.99%) | $4,504,480 | | Net Lumpsum Payment | $42,911,190 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,498,466 |
$884,763
$149,658 |
$1,464,045 |
| 2 |
$2,623,464 |
$931,012
$157,145 |
$1,535,307 |
| 3 |
$2,754,604 |
$979,534
$165,001 |
$1,610,069 |
| 4 |
$2,892,384 |
$1,030,512
$173,254 |
$1,688,618 |
| 5 |
$3,036,970 |
$1,084,009
$181,915 |
$1,771,046 |
| 6 |
$3,188,860 |
$1,140,209
$191,013 |
$1,857,638 |
| 7 |
$3,348,220 |
$1,199,172
$200,558 |
$1,948,490 |
| 8 |
$3,515,714 |
$1,261,145
$210,591 |
$2,043,978 |
| 9 |
$3,691,508 |
$1,326,188
$221,121 |
$2,144,199 |
| 10 |
$3,876,100 |
$1,394,487
$232,178 |
$2,249,435 |
| 11 |
$4,069,822 |
$1,466,165
$243,782 |
$2,359,875 |
| 12 |
$4,273,338 |
$1,541,465
$255,973 |
$2,475,900 |
| 13 |
$4,486,980 |
$1,620,513
$268,770 |
$2,597,697 |
| 14 |
$4,711,412 |
$1,703,553
$282,214 |
$2,725,645 |
| 15 |
$4,946,966 |
$1,790,708
$296,323 |
$2,859,935 |
| 16 |
$5,194,306 |
$1,882,224
$311,139 |
$3,000,943 |
| 17 |
$5,453,930 |
$1,978,284
$326,690 |
$3,148,956 |
| 18 |
$5,726,668 |
$2,079,198
$343,027 |
$3,304,443 |
| 19 |
$6,013,018 |
$2,185,147
$360,180 |
$3,467,691 |
| 20 |
$6,313,644 |
$2,296,379
$378,187 |
$3,639,078 |
| 21 |
$6,629,376 |
$2,413,200
$397,100 |
$3,819,076 |
| 22 |
$6,960,878 |
$2,535,855
$416,957 |
$4,008,066 |
| 23 |
$7,308,814 |
$2,664,592
$437,798 |
$4,206,424 |
| 24 |
$7,674,346 |
$2,799,838
$459,693 |
$4,414,815 |
| 25 |
$8,057,972 |
$2,941,780
$482,673 |
$4,633,519 |
| 26 |
$8,461,020 |
$3,090,908
$506,815 |
$4,863,297 |
| 27 |
$8,883,988 |
$3,247,406
$532,151 |
$5,104,431 |
| 28 |
$9,328,204 |
$3,411,766
$558,759 |
$5,357,679 |
| 29 |
$9,794,664 |
$3,584,356
$586,700 |
$5,623,608 |
| 30 |
$10,284,364 |
$3,765,545
$616,033 |
$5,902,786 |
|
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