USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Nov 21, 1997

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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 $15,000,000 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, Nov 21, 1997
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$13,524$162,314
2$237,060$53,546$14,200$169,314
3$248,913$57,494$14,910$176,509
4$261,359$61,850$15,655$183,853
5$274,427$66,424$16,438$191,564
6$288,148$71,227$17,260$199,661
7$302,555$76,269$18,123$208,163
8$317,683$81,564$19,029$217,090
9$333,567$87,123$19,981$226,463
10$350,246$92,961$20,980$236,305
11$367,758$99,090$22,029$246,639
12$386,146$105,526$23,130$257,490
13$405,453$112,283$24,287$268,883
14$425,726$119,379$25,501$280,846
15$447,012$126,829$26,776$293,407
16$469,363$134,652$28,115$306,596
17$492,831$142,866$29,521$320,445
18$517,472$151,490$30,997$334,986
19$543,346$160,546$32,546$350,254
20$570,513$170,054$34,174$366,285
21$599,039$180,038$35,882$383,118
22$628,991$190,914$37,677$400,400
23$660,441$202,551$39,560$418,329
24$693,463$214,769$41,538$437,155
25$728,136$227,598$43,615$456,922
26$764,543$241,068$45,796$477,678
27$802,770$255,213$48,086$499,471
28$842,908$270,064$50,490$522,354
29$885,054$285,658$53,015$546,381
30$929,306$302,031$55,665$571,610
Total$15,000,000$4,391,010$898,500$9,710,485

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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.