USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Dec 26, 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 $8,000,000 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, Dec 26, 1997
Jackpot:$8,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$120,411$21,941$7,213$91,258
2$126,432$23,386$7,573$95,473
3$132,754$24,903$7,952$99,898
4$139,391$26,496$8,350$104,545
5$146,361$28,169$8,767$109,425
6$153,679$29,925$9,205$114,548
7$161,363$31,770$9,666$119,928
8$169,431$33,706$10,149$125,576
9$177,903$35,739$10,656$131,507
10$186,798$37,874$11,189$137,735
11$196,138$40,451$11,749$143,938
12$205,944$43,589$12,336$150,020
13$216,242$46,884$12,953$156,405
14$227,054$50,344$13,601$163,110
15$238,406$53,977$14,281$170,149
16$250,327$57,989$14,995$177,343
17$262,843$62,370$15,744$184,729
18$275,985$66,970$16,532$192,484
19$289,785$71,799$17,358$200,627
20$304,274$76,871$18,226$209,177
21$319,488$82,195$19,137$218,155
22$335,462$87,786$20,094$227,581
23$352,235$93,657$21,099$237,479
24$369,847$99,821$22,154$247,872
25$388,339$106,293$23,262$258,784
26$407,756$113,089$24,425$270,242
27$428,144$120,225$25,646$282,273
28$449,551$127,718$26,928$294,905
29$472,029$135,585$28,275$308,169
30$495,630$143,845$29,688$322,097
Total$8,000,000$1,975,367$479,203$5,545,432

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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.