The jackpot for the Powerball draw on Sat Mar 1, 2025, is projected to be $272 Million, with an option for a cash payout of $124.4 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 Mar 1, 2025 |
|---|
| Draw Date | Sat Mar 1, 2025 | | Projected Jackpot | $272,000,000 | | Cash Value | $124,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $124,400,000 | | Federal Tax(24%) | $29,856,000 | | Additional Federal Tax | $16,132,330 | | State Tax(5.99%) | $7,451,560 | | Net Lumpsum Payment | $70,960,110 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$4,093,872 |
$1,475,063
$245,223 |
$2,373,586 |
| 2 |
$4,298,688 |
$1,550,845
$257,491 |
$2,490,352 |
| 3 |
$4,513,568 |
$1,630,351
$270,363 |
$2,612,854 |
| 4 |
$4,739,328 |
$1,713,882
$283,886 |
$2,741,560 |
| 5 |
$4,976,240 |
$1,801,539
$298,077 |
$2,876,624 |
| 6 |
$5,225,120 |
$1,893,625
$312,985 |
$3,018,510 |
| 7 |
$5,486,240 |
$1,990,239
$328,626 |
$3,167,375 |
| 8 |
$5,760,688 |
$2,091,785
$345,065 |
$3,323,838 |
| 9 |
$6,048,736 |
$2,198,363
$362,319 |
$3,488,054 |
| 10 |
$6,351,200 |
$2,310,274
$380,437 |
$3,660,489 |
| 11 |
$6,668,624 |
$2,427,721
$399,451 |
$3,841,452 |
| 12 |
$7,002,096 |
$2,551,106
$419,426 |
$4,031,564 |
| 13 |
$7,352,160 |
$2,680,630
$440,394 |
$4,231,136 |
| 14 |
$7,719,904 |
$2,816,695
$462,422 |
$4,440,787 |
| 15 |
$8,105,872 |
$2,959,503
$485,542 |
$4,660,827 |
| 16 |
$8,511,152 |
$3,109,457
$509,818 |
$4,891,877 |
| 17 |
$8,936,560 |
$3,266,858
$535,300 |
$5,134,402 |
| 18 |
$9,383,456 |
$3,432,209
$562,069 |
$5,389,178 |
| 19 |
$9,852,656 |
$3,605,813
$590,174 |
$5,656,669 |
| 20 |
$10,345,248 |
$3,788,072
$619,680 |
$5,937,496 |
| 21 |
$10,862,592 |
$3,979,489
$650,669 |
$6,232,434 |
| 22 |
$11,405,776 |
$4,180,468
$683,206 |
$6,542,102 |
| 23 |
$11,975,888 |
$4,391,409
$717,356 |
$6,867,123 |
| 24 |
$12,574,832 |
$4,613,018
$753,232 |
$7,208,582 |
| 25 |
$13,203,424 |
$4,845,597
$790,885 |
$7,566,942 |
| 26 |
$13,863,840 |
$5,089,951
$830,444 |
$7,943,445 |
| 27 |
$14,556,896 |
$5,346,382
$871,958 |
$8,338,556 |
| 28 |
$15,284,768 |
$5,615,695
$915,558 |
$8,753,515 |
| 29 |
$16,049,088 |
$5,898,493
$961,340 |
$9,189,255 |
| 30 |
$16,851,488 |
$6,195,381
$1,009,404 |
$9,646,703 |
|
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