USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Aug 18, 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 $19,000,000 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, Aug 18, 1998
Jackpot:$19,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,977$70,467$17,130$198,380
2$300,276$75,471$17,987$206,818
3$315,290$80,726$18,886$215,678
4$331,054$86,244$19,830$224,980
5$347,607$92,037$20,822$234,748
6$364,988$98,120$21,863$245,004
7$383,237$104,508$22,956$255,773
8$402,399$111,214$24,104$267,081
9$422,519$118,256$25,309$278,954
10$443,645$125,650$26,574$291,420
11$465,827$133,414$27,903$304,510
12$489,118$141,566$29,298$318,254
13$513,574$150,126$30,763$332,685
14$539,253$159,113$32,301$347,838
15$566,215$168,550$33,916$363,749
16$594,526$178,459$35,612$380,455
17$624,253$189,161$37,393$397,699
18$655,465$200,710$39,262$415,493
19$688,238$212,836$41,225$434,177
20$722,650$225,568$43,287$453,795
21$758,783$238,937$45,451$474,394
22$796,722$252,975$47,724$496,023
23$836,558$267,714$50,110$518,734
24$878,386$283,191$52,615$542,580
25$922,305$299,441$55,246$567,618
26$968,421$316,503$58,008$593,909
27$1,016,842$334,419$60,909$621,514
28$1,067,684$353,231$63,954$650,499
29$1,121,068$372,983$67,152$680,933
30$1,177,121$393,723$70,510$712,889
Total$19,000,000$5,835,313$1,138,100$12,026,584

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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.