USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jan 15, 1999

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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 $27,000,000 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 15, 1999
Jackpot:$27,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$406,389$112,611$24,343$269,435
2$426,708$119,723$25,560$281,426
3$448,044$127,190$26,838$294,016
4$470,446$135,031$28,180$307,235
5$493,968$143,264$29,589$321,116
6$518,666$151,908$31,068$335,690
7$544,600$160,985$32,622$350,994
8$571,830$170,515$34,253$367,062
9$600,421$180,522$35,965$383,934
10$630,442$191,451$37,763$401,227
11$661,964$203,115$39,652$419,198
12$695,063$215,361$41,634$438,067
13$729,816$228,220$43,716$457,880
14$766,307$241,721$45,902$478,684
15$804,622$255,898$48,197$500,527
16$844,853$270,783$50,607$523,463
17$887,096$286,413$53,137$547,545
18$931,450$302,824$55,794$572,832
19$978,023$320,056$58,584$599,383
20$1,026,924$338,150$61,513$627,262
21$1,078,270$357,148$64,588$656,534
22$1,132,184$377,096$67,818$687,270
23$1,188,793$398,041$71,209$719,543
24$1,248,233$420,034$74,769$753,430
25$1,310,644$443,126$78,508$789,011
26$1,376,177$467,373$82,433$826,371
27$1,444,985$492,832$86,555$865,598
28$1,517,235$519,565$90,882$906,788
29$1,593,096$547,633$95,426$950,036
30$1,672,751$577,106$100,198$995,448
Total$27,000,000$8,755,695$1,617,303$16,627,005

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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.