USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jan 23, 1998

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 $5,000,000 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, Jan 23, 1998
Jackpot:$5,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$75,257$11,610$4,508$59,140
2$79,020$12,437$4,733$61,849
3$82,971$13,307$4,970$64,694
4$87,120$14,219$5,218$67,682
5$91,476$15,178$5,479$70,819
6$96,049$16,184$5,753$74,112
7$100,852$17,247$6,041$77,564
8$105,894$18,457$6,343$81,094
9$111,189$19,728$6,660$84,801
10$116,749$21,062$6,993$88,693
11$122,586$22,463$7,343$92,780
12$128,715$23,934$7,710$97,071
13$135,151$25,479$8,096$101,577
14$141,909$27,101$8,500$106,308
15$149,004$28,803$8,925$111,275
16$156,454$30,592$9,372$116,491
17$164,277$32,469$9,840$121,968
18$172,491$34,440$10,332$127,718
19$181,115$36,510$10,849$133,756
20$190,171$38,684$11,391$140,096
21$199,680$41,584$11,961$146,135
22$209,664$44,779$12,559$152,326
23$220,147$48,133$13,187$158,827
24$231,154$51,656$13,846$165,652
25$242,712$55,354$14,538$172,819
26$254,848$59,571$15,265$180,011
27$267,590$64,031$16,029$187,530
28$280,969$68,714$16,830$195,425
29$295,018$73,631$17,672$203,715
30$309,769$78,794$18,555$212,420
Total$5,000,000$1,046,151$299,498$3,654,348

◄ 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.