USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jan 31, 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 $31,000,000 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 prize money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Tue, Jan 31, 2023
Jackpot:$31,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$466,594$137,061$27,949$301,584
2$489,924$145,226$29,346$315,351
3$514,420$153,800$30,814$329,806
4$540,141$162,807$32,354$344,980
5$567,149$172,800$33,972$360,376
6$595,506$183,292$35,671$376,543
7$625,281$194,309$37,454$393,518
8$656,545$205,877$39,327$411,341
9$689,373$218,023$41,293$430,056
10$723,841$230,776$43,358$449,707
11$760,033$244,167$45,526$470,340
12$798,035$258,228$47,802$492,005
13$837,937$272,992$50,192$514,753
14$879,834$288,493$52,702$538,638
15$923,825$304,770$55,337$563,718
16$970,016$321,861$58,104$590,051
17$1,018,517$339,806$61,009$617,702
18$1,069,443$358,649$64,060$646,735
19$1,122,915$378,434$67,263$677,219
20$1,179,061$399,208$70,626$709,228
21$1,238,014$421,020$74,157$742,837
22$1,299,915$443,923$77,865$778,126
23$1,364,911$467,972$81,758$815,180
24$1,433,156$493,223$85,846$854,087
25$1,504,814$519,736$90,138$894,939
26$1,580,055$547,575$94,645$937,834
27$1,659,057$576,806$99,378$982,874
28$1,742,010$607,499$104,346$1,030,165
29$1,829,111$639,726$109,564$1,079,821
30$1,920,566$673,564$115,042$1,131,960
Total$31,000,000$10,361,623$1,856,898$18,781,474

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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.