The jackpot for the Powerball draw on Sat May 23, 2026, is projected to be $131 Million, with an option for a cash payout of $57.5 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 May 23, 2026 |
|---|
| Draw Date | Sat May 23, 2026 | | Projected Jackpot | $131,000,000 | | Cash Value | $57,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $57,500,000 | | Federal Tax(24%) | $13,800,000 | | Additional Federal Tax | $7,435,330 | | State Tax(5.99%) | $3,444,250 | | Net Lumpsum Payment | $32,820,420 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$1,971,681 |
$689,852
$118,104 |
$1,163,725 |
| 2 |
$2,070,324 |
$726,350
$124,012 |
$1,219,962 |
| 3 |
$2,173,814 |
$764,642
$130,211 |
$1,278,961 |
| 4 |
$2,282,544 |
$804,872
$136,724 |
$1,340,948 |
| 5 |
$2,396,645 |
$847,089
$143,559 |
$1,405,997 |
| 6 |
$2,516,510 |
$891,439
$150,739 |
$1,474,332 |
| 7 |
$2,642,270 |
$937,970
$158,272 |
$1,546,028 |
| 8 |
$2,774,449 |
$986,877
$166,189 |
$1,621,383 |
| 9 |
$2,913,178 |
$1,038,206
$174,499 |
$1,700,473 |
| 10 |
$3,058,850 |
$1,092,105
$183,225 |
$1,783,520 |
| 11 |
$3,211,727 |
$1,148,669
$192,382 |
$1,870,676 |
| 12 |
$3,372,333 |
$1,208,094
$202,003 |
$1,962,236 |
| 13 |
$3,540,930 |
$1,270,474
$212,102 |
$2,058,354 |
| 14 |
$3,718,042 |
$1,336,006
$222,711 |
$2,159,325 |
| 15 |
$3,903,931 |
$1,404,785
$233,845 |
$2,265,301 |
| 16 |
$4,099,121 |
$1,477,005
$245,537 |
$2,376,579 |
| 17 |
$4,304,005 |
$1,552,812
$257,810 |
$2,493,383 |
| 18 |
$4,519,238 |
$1,632,448
$270,702 |
$2,616,088 |
| 19 |
$4,745,213 |
$1,716,059
$284,238 |
$2,744,916 |
| 20 |
$4,982,454 |
$1,803,838
$298,449 |
$2,880,167 |
| 21 |
$5,231,616 |
$1,896,028
$313,374 |
$3,022,214 |
| 22 |
$5,493,223 |
$1,992,823
$329,044 |
$3,171,356 |
| 23 |
$5,767,799 |
$2,094,416
$345,491 |
$3,327,892 |
| 24 |
$6,056,261 |
$2,201,147
$362,770 |
$3,492,344 |
| 25 |
$6,359,002 |
$2,313,161
$380,904 |
$3,664,937 |
| 26 |
$6,677,070 |
$2,430,846
$399,956 |
$3,846,268 |
| 27 |
$7,010,858 |
$2,554,348
$419,950 |
$4,036,560 |
| 28 |
$7,361,414 |
$2,684,054
$440,949 |
$4,236,411 |
| 29 |
$7,729,524 |
$2,820,254
$462,998 |
$4,446,272 |
| 30 |
$8,115,974 |
$2,963,241
$486,147 |
$4,666,586 |
|
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