The jackpot for the Powerball draw on Sat Nov 23, 2024, is projected to be $171 Million, with an option for a cash payout of $78.7 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 Nov 23, 2024 |
|---|
| Draw Date | Sat Nov 23, 2024 | | Projected Jackpot | $171,000,000 | | Cash Value | $78,700,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $78,700,000 | | Federal Tax(24%) | $18,888,000 | | Additional Federal Tax | $10,191,330 | | State Tax(5.99%) | $4,714,130 | | Net Lumpsum Payment | $44,906,540 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$2,573,721 |
$912,607
$154,166 |
$1,506,948 |
| 2 |
$2,702,484 |
$960,249
$161,879 |
$1,580,356 |
| 3 |
$2,837,574 |
$1,010,233
$169,971 |
$1,657,370 |
| 4 |
$2,979,504 |
$1,062,747
$178,472 |
$1,738,285 |
| 5 |
$3,128,445 |
$1,117,855
$187,394 |
$1,823,196 |
| 6 |
$3,284,910 |
$1,175,747
$196,766 |
$1,912,397 |
| 7 |
$3,449,070 |
$1,236,486
$206,599 |
$2,005,985 |
| 8 |
$3,621,609 |
$1,300,326
$216,934 |
$2,104,349 |
| 9 |
$3,802,698 |
$1,367,329
$227,782 |
$2,207,587 |
| 10 |
$3,992,850 |
$1,437,685
$239,172 |
$2,315,993 |
| 11 |
$4,192,407 |
$1,511,521
$251,125 |
$2,429,761 |
| 12 |
$4,402,053 |
$1,589,090
$263,683 |
$2,549,280 |
| 13 |
$4,622,130 |
$1,670,518
$276,866 |
$2,674,746 |
| 14 |
$4,853,322 |
$1,756,060
$290,714 |
$2,806,548 |
| 15 |
$5,095,971 |
$1,845,840
$305,249 |
$2,944,882 |
| 16 |
$5,350,761 |
$1,940,112
$320,511 |
$3,090,138 |
| 17 |
$5,618,205 |
$2,039,066
$336,530 |
$3,242,609 |
| 18 |
$5,899,158 |
$2,143,019
$353,360 |
$3,402,779 |
| 19 |
$6,194,133 |
$2,252,160
$371,029 |
$3,570,944 |
| 20 |
$6,503,814 |
$2,366,742
$389,578 |
$3,747,494 |
| 21 |
$6,829,056 |
$2,487,081
$409,060 |
$3,932,915 |
| 22 |
$7,170,543 |
$2,613,431
$429,516 |
$4,127,596 |
| 23 |
$7,528,959 |
$2,746,045
$450,985 |
$4,331,929 |
| 24 |
$7,905,501 |
$2,885,366
$473,540 |
$4,546,595 |
| 25 |
$8,300,682 |
$3,031,583
$497,211 |
$4,771,888 |
| 26 |
$8,715,870 |
$3,185,202
$522,081 |
$5,008,587 |
| 27 |
$9,151,578 |
$3,346,414
$548,180 |
$5,256,984 |
| 28 |
$9,609,174 |
$3,515,725
$575,590 |
$5,517,859 |
| 29 |
$10,089,684 |
$3,693,513
$604,372 |
$5,791,799 |
| 30 |
$10,594,134 |
$3,880,160
$634,589 |
$6,079,385 |
|
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