USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Mar 25, 2014

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The tax information provided here is based on 2021 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 $20,000,000 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 prize money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Tue, Mar 25, 2014
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$301,029$79,904$18,032$203,093
2$316,080$85,172$18,933$211,975
3$331,884$90,704$19,880$221,301
4$348,478$96,512$20,874$231,093
5$365,902$102,610$21,918$241,375
6$384,197$109,013$23,013$252,171
7$403,407$115,737$24,164$263,506
8$423,578$122,796$25,372$275,409
9$444,757$130,209$26,641$287,907
10$466,994$137,992$27,973$301,029
11$490,344$146,165$29,372$314,808
12$514,861$154,746$30,840$329,275
13$540,604$164,096$32,382$344,126
14$567,635$174,097$34,001$359,536
15$596,016$184,598$35,701$375,717
16$625,817$195,625$37,486$392,706
17$657,108$207,202$39,361$410,545
18$689,963$219,359$41,329$429,276
19$724,461$232,123$43,395$448,943
20$760,685$245,526$45,565$469,594
21$798,719$259,598$47,843$491,277
22$838,655$274,374$50,235$514,045
23$880,587$289,890$52,747$537,951
24$924,617$306,180$55,385$563,052
25$970,848$323,286$58,154$589,408
26$1,019,390$341,247$61,061$617,082
27$1,070,360$360,105$64,115$646,140
28$1,123,878$379,907$67,320$676,650
29$1,180,071$400,699$70,686$708,686
30$1,239,075$422,530$74,221$742,324
Total$20,000,000$6,352,002$1,197,999$12,450,000

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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.