USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Feb 17, 1998

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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 $17,000,000 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:Tue, Feb 17, 1998
Jackpot:$17,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$255,874$59,931$15,327$180,617
2$268,668$64,409$16,093$188,166
3$282,102$69,110$16,898$196,093
4$296,207$74,047$17,743$204,417
5$311,017$79,231$18,630$213,156
6$326,568$84,673$19,561$222,333
7$342,896$90,388$20,539$231,968
8$360,041$96,389$21,566$242,085
9$378,043$102,690$22,645$252,708
10$396,945$109,306$23,777$263,863
11$416,792$116,252$24,966$275,574
12$437,632$123,546$26,214$287,872
13$459,514$131,205$27,525$300,784
14$482,489$139,246$28,901$314,342
15$506,614$147,690$30,346$328,578
16$531,945$156,555$31,863$343,526
17$558,542$165,864$33,457$359,221
18$586,469$175,639$35,129$375,700
19$615,792$186,031$36,886$392,875
20$646,582$197,423$38,730$410,429
21$678,911$209,385$40,667$428,859
22$712,856$221,945$42,700$448,212
23$748,499$235,132$44,835$468,532
24$785,924$248,980$47,077$489,868
25$825,220$263,519$49,431$512,270
26$866,482$278,786$51,902$535,793
27$909,806$294,816$54,497$560,492
28$955,296$311,647$57,222$586,426
29$1,003,061$329,320$60,083$613,657
30$1,053,214$347,877$63,088$642,249
Total$17,000,000$5,111,032$1,018,298$10,870,665

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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.