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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Nov 4, 2014

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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 $321,000,000 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, Nov 4, 2014
Jackpot:$321,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,831,511$1,745,847$289,407$2,796,256
2$5,073,086$1,835,230$303,878$2,933,979
3$5,326,740$1,929,082$319,072$3,078,587
4$5,593,078$2,027,626$335,025$3,230,426
5$5,872,731$2,131,098$351,777$3,389,856
6$6,166,368$2,239,744$369,365$3,557,259
7$6,474,687$2,353,822$387,834$3,733,031
8$6,798,421$2,473,603$407,225$3,917,592
9$7,138,342$2,599,374$427,587$4,111,381
10$7,495,259$2,731,434$448,966$4,314,859
11$7,870,022$2,870,096$471,414$4,528,512
12$8,263,523$3,015,691$494,985$4,752,847
13$8,676,699$3,168,566$519,734$4,988,398
14$9,110,534$3,329,085$545,721$5,235,728
15$9,566,061$3,497,630$573,007$5,495,423
16$10,044,364$3,674,602$601,657$5,768,104
17$10,546,582$3,860,423$631,740$6,054,419
18$11,073,911$4,055,535$663,327$6,355,049
19$11,627,606$4,260,402$696,494$6,670,711
20$12,208,987$4,475,513$731,318$7,002,156
21$12,819,436$4,701,379$767,884$7,350,173
22$13,460,408$4,938,539$806,278$7,715,591
23$14,133,428$5,187,556$846,592$8,099,280
24$14,840,100$5,449,025$888,922$8,502,153
25$15,582,105$5,723,566$933,368$8,925,170
26$16,361,210$6,011,836$980,036$9,369,338
27$17,179,271$6,314,518$1,029,038$9,835,714
28$18,038,234$6,632,334$1,080,490$10,325,409
29$18,940,146$6,966,042$1,134,515$10,839,589
30$19,887,153$7,316,434$1,191,240$11,379,478
Total$321,000,001$117,515,632$19,227,896$184,256,468

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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.