The jackpot for the MEGA Millions draw on Tue Apr 29, 2025, is projected to be $70 Million, with an option for a cash payout of $31.8 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 29, 2025 |
|---|
| Draw Date | Tue Apr 29, 2025 | | Projected Jackpot | $70,000,000 | | Cash Value | $31,800,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $31,800,000 | | Federal Tax(24%) | $7,632,000 | | Additional Federal Tax | $4,094,330 | | State Tax(5.99%) | $1,904,820 | | Net Lumpsum Payment | $18,168,850 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,053,570 |
$350,151
$63,109 |
$640,310 |
| 2 |
$1,106,280 |
$369,654
$66,266 |
$670,360 |
| 3 |
$1,161,580 |
$390,115
$69,579 |
$701,886 |
| 4 |
$1,219,680 |
$411,612
$73,059 |
$735,009 |
| 5 |
$1,280,650 |
$434,171
$76,711 |
$769,768 |
| 6 |
$1,344,700 |
$457,869
$80,548 |
$806,283 |
| 7 |
$1,411,900 |
$482,733
$84,573 |
$844,594 |
| 8 |
$1,482,530 |
$508,866
$88,804 |
$884,860 |
| 9 |
$1,556,660 |
$536,295
$93,244 |
$927,121 |
| 10 |
$1,634,500 |
$565,095
$97,907 |
$971,498 |
| 11 |
$1,716,190 |
$595,321
$102,800 |
$1,018,069 |
| 12 |
$1,802,010 |
$627,074
$107,940 |
$1,066,996 |
| 13 |
$1,892,100 |
$660,407
$113,337 |
$1,118,356 |
| 14 |
$1,986,740 |
$695,424
$119,006 |
$1,172,310 |
| 15 |
$2,086,070 |
$732,176
$124,956 |
$1,228,938 |
| 16 |
$2,190,370 |
$770,767
$131,203 |
$1,288,400 |
| 17 |
$2,299,850 |
$811,275
$137,761 |
$1,350,814 |
| 18 |
$2,414,860 |
$853,829
$144,650 |
$1,416,381 |
| 19 |
$2,535,610 |
$898,506
$151,883 |
$1,485,221 |
| 20 |
$2,662,380 |
$945,411
$159,477 |
$1,557,492 |
| 21 |
$2,795,520 |
$994,673
$167,452 |
$1,633,395 |
| 22 |
$2,935,310 |
$1,046,395
$175,825 |
$1,713,090 |
| 23 |
$3,082,030 |
$1,100,681
$184,614 |
$1,796,735 |
| 24 |
$3,236,170 |
$1,157,713
$193,847 |
$1,884,610 |
| 25 |
$3,397,940 |
$1,217,568
$203,537 |
$1,976,835 |
| 26 |
$3,567,900 |
$1,280,453
$213,717 |
$2,073,730 |
| 27 |
$3,746,260 |
$1,346,447
$224,401 |
$2,175,412 |
| 28 |
$3,933,580 |
$1,415,755
$235,621 |
$2,282,204 |
| 29 |
$4,130,280 |
$1,488,534
$247,404 |
$2,394,342 |
| 30 |
$4,336,780 |
$1,564,939
$259,773 |
$2,512,068 |
|
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