The jackpot for the Powerball draw on Sat Apr 5, 2025, is projected to be $47 Million, with an option for a cash payout of $21.8 Million. Should you be the lucky winner of the Powerball 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 Powerball Jackpot/Cash Option for Sat Apr 5, 2025 |
|---|
| Draw Date | Sat Apr 5, 2025 | | Projected Jackpot | $47,000,000 | | Cash Value | $21,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $21,800,000 | | Federal Tax(24%) | $5,232,000 | | Additional Federal Tax | $2,794,330 | | State Tax(5.99%) | $1,305,820 | | Net Lumpsum Payment | $12,467,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$707,397 |
$222,067
$42,373 |
$442,957 |
| 2 |
$742,788 |
$235,162
$44,493 |
$463,133 |
| 3 |
$779,918 |
$248,900
$46,717 |
$484,301 |
| 4 |
$818,928 |
$263,334
$49,054 |
$506,540 |
| 5 |
$859,865 |
$278,480
$51,506 |
$529,879 |
| 6 |
$902,870 |
$294,392
$54,082 |
$554,396 |
| 7 |
$947,990 |
$311,087
$56,785 |
$580,118 |
| 8 |
$995,413 |
$328,633
$59,625 |
$607,155 |
| 9 |
$1,045,186 |
$347,049
$62,607 |
$635,530 |
| 10 |
$1,097,450 |
$366,387
$65,737 |
$665,326 |
| 11 |
$1,152,299 |
$386,681
$69,023 |
$696,595 |
| 12 |
$1,209,921 |
$408,001
$72,474 |
$729,446 |
| 13 |
$1,270,410 |
$430,382
$76,098 |
$763,930 |
| 14 |
$1,333,954 |
$453,893
$79,904 |
$800,157 |
| 15 |
$1,400,647 |
$478,570
$83,899 |
$838,178 |
| 16 |
$1,470,677 |
$504,481
$88,094 |
$878,102 |
| 17 |
$1,544,185 |
$531,679
$92,497 |
$920,009 |
| 18 |
$1,621,406 |
$560,251
$97,122 |
$964,033 |
| 19 |
$1,702,481 |
$590,248
$101,979 |
$1,010,254 |
| 20 |
$1,787,598 |
$621,742
$107,077 |
$1,058,779 |
| 21 |
$1,876,992 |
$654,817
$112,432 |
$1,109,743 |
| 22 |
$1,970,851 |
$689,545
$118,054 |
$1,163,252 |
| 23 |
$2,069,363 |
$725,995
$123,955 |
$1,219,413 |
| 24 |
$2,172,857 |
$764,287
$130,154 |
$1,278,416 |
| 25 |
$2,281,474 |
$804,476
$136,660 |
$1,340,338 |
| 26 |
$2,395,590 |
$846,699
$143,496 |
$1,405,395 |
| 27 |
$2,515,346 |
$891,008
$150,669 |
$1,473,669 |
| 28 |
$2,641,118 |
$937,544
$158,203 |
$1,545,371 |
| 29 |
$2,773,188 |
$986,410
$166,114 |
$1,620,664 |
| 30 |
$2,911,838 |
$1,037,710
$174,419 |
$1,699,709 |
|
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