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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Sep 22, 2023

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The tax information provided here is based on 2022 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $205,000,000 for a ticket purchased in Rhode Island, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Fri, Sep 22, 2023
Jackpot:$205,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,085,544$1,104,606$184,824$1,796,114
2$3,239,821$1,161,689$194,065$1,884,067
3$3,401,812$1,221,626$203,769$1,976,418
4$3,571,903$1,284,559$213,957$2,073,387
5$3,750,498$1,350,639$224,655$2,175,204
6$3,938,023$1,420,024$235,888$2,282,112
7$4,134,924$1,492,877$247,682$2,394,365
8$4,341,671$1,569,373$260,066$2,512,231
9$4,558,754$1,649,694$273,069$2,635,991
10$4,786,692$1,734,031$286,723$2,765,938
11$5,026,026$1,822,585$301,059$2,902,383
12$5,277,328$1,915,566$316,112$3,045,650
13$5,541,194$2,013,197$331,918$3,196,080
14$5,818,254$2,115,709$348,513$3,354,032
15$6,109,166$2,223,347$365,939$3,519,881
16$6,414,625$2,336,366$384,236$3,694,023
17$6,735,356$2,455,037$403,448$3,876,871
18$7,072,124$2,579,641$423,620$4,068,863
19$7,425,730$2,710,475$444,801$4,270,454
20$7,797,017$2,847,851$467,041$4,482,124
21$8,186,867$2,992,096$490,393$4,704,378
22$8,596,211$3,143,553$514,913$4,937,745
23$9,026,021$3,302,583$540,659$5,182,780
24$9,477,322$3,469,564$567,692$5,440,066
25$9,951,188$3,644,895$596,076$5,710,217
26$10,448,748$3,828,992$625,880$5,993,876
27$10,971,185$4,022,294$657,174$6,291,718
28$11,519,744$4,225,260$690,033$6,604,451
29$12,095,732$4,438,376$724,534$6,932,822
30$12,700,518$4,662,147$760,761$7,277,611
Total$205,000,000$74,738,652$12,279,500$117,981,852

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.