USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Feb 23, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

The tax information provided here is based on 2024 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 $525,000,000 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, Feb 23, 2024
Jackpot:$525,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,902,003$2,881,929$473,330$4,546,744
2$8,297,104$3,028,116$496,997$4,771,991
3$8,711,959$3,181,612$521,846$5,008,500
4$9,147,557$3,342,784$547,939$5,256,834
5$9,604,934$3,512,013$575,336$5,517,585
6$10,085,181$3,689,705$604,102$5,791,374
7$10,589,441$3,876,281$634,307$6,078,852
8$11,118,913$4,072,185$666,023$6,380,704
9$11,674,858$4,277,885$699,324$6,697,649
10$12,258,601$4,493,870$734,290$7,030,441
11$12,871,531$4,720,654$771,005$7,379,872
12$13,515,108$4,958,778$809,555$7,746,775
13$14,190,863$5,208,807$850,033$8,132,023
14$14,900,406$5,471,338$892,534$8,536,534
15$15,645,426$5,746,995$937,161$8,961,270
16$16,427,698$6,036,436$984,019$9,407,243
17$17,249,082$6,340,348$1,033,220$9,875,514
18$18,111,537$6,659,456$1,084,881$10,367,199
19$19,017,113$6,994,520$1,139,125$10,883,469
20$19,967,969$7,346,336$1,196,081$11,425,551
21$20,966,367$7,715,744$1,255,885$11,994,738
22$22,014,686$8,103,622$1,318,680$12,592,385
23$23,115,420$8,510,893$1,384,614$13,219,913
24$24,271,191$8,938,528$1,453,844$13,878,818
25$25,484,751$9,387,545$1,526,537$14,570,669
26$26,758,989$9,859,014$1,602,863$15,297,112
27$28,096,938$10,354,055$1,683,007$16,059,877
28$29,501,784$10,873,848$1,767,157$16,860,780
29$30,976,874$11,419,631$1,855,515$17,701,728
30$32,525,718$11,992,703$1,948,290$18,584,724
Total$525,000,001$192,995,631$31,447,500$300,556,868

◄ Back to Jackpot Analysis

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.