The jackpot for the MEGA Millions draw on Fri Apr 4, 2025, is projected to be $43 Million, with an option for a cash payout of $20 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 Apr 4, 2025 |
|---|
| Draw Date | Fri Apr 4, 2025 | | Projected Jackpot | $43,000,000 | | Cash Value | $20,000,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $20,000,000 | | Federal Tax(24%) | $4,800,000 | | Additional Federal Tax | $2,560,330 | | State Tax(5.99%) | $1,198,000 | | Net Lumpsum Payment | $11,441,670 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$647,193 |
$199,792
$38,767 |
$408,634 |
| 2 |
$679,572 |
$211,772
$40,706 |
$427,094 |
| 3 |
$713,542 |
$224,341
$42,741 |
$446,460 |
| 4 |
$749,232 |
$237,546
$44,879 |
$466,807 |
| 5 |
$786,685 |
$251,404
$47,122 |
$488,159 |
| 6 |
$826,030 |
$265,961
$49,479 |
$510,590 |
| 7 |
$867,310 |
$281,235
$51,952 |
$534,123 |
| 8 |
$910,697 |
$297,288
$54,551 |
$558,858 |
| 9 |
$956,234 |
$314,137
$57,278 |
$584,819 |
| 10 |
$1,004,050 |
$331,829
$60,143 |
$612,078 |
| 11 |
$1,054,231 |
$350,396
$63,148 |
$640,687 |
| 12 |
$1,106,949 |
$369,902
$66,306 |
$670,741 |
| 13 |
$1,162,290 |
$390,378
$69,621 |
$702,291 |
| 14 |
$1,220,426 |
$411,888
$73,104 |
$735,434 |
| 15 |
$1,281,443 |
$434,464
$76,758 |
$770,221 |
| 16 |
$1,345,513 |
$458,170
$80,596 |
$806,747 |
| 17 |
$1,412,765 |
$483,053
$84,625 |
$845,087 |
| 18 |
$1,483,414 |
$509,194
$88,856 |
$885,364 |
| 19 |
$1,557,589 |
$536,638
$93,300 |
$927,651 |
| 20 |
$1,635,462 |
$565,451
$97,964 |
$972,047 |
| 21 |
$1,717,248 |
$595,712
$102,863 |
$1,018,673 |
| 22 |
$1,803,119 |
$627,484
$108,007 |
$1,067,628 |
| 23 |
$1,893,247 |
$660,832
$113,405 |
$1,119,010 |
| 24 |
$1,987,933 |
$695,866
$119,077 |
$1,172,990 |
| 25 |
$2,087,306 |
$732,634
$125,030 |
$1,229,642 |
| 26 |
$2,191,710 |
$771,263
$131,283 |
$1,289,164 |
| 27 |
$2,301,274 |
$811,802
$137,846 |
$1,351,626 |
| 28 |
$2,416,342 |
$854,377
$144,739 |
$1,417,226 |
| 29 |
$2,537,172 |
$899,084
$151,977 |
$1,486,111 |
| 30 |
$2,664,022 |
$946,019
$159,575 |
$1,558,428 |
|
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