USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Sep 5, 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 $33,000,000 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, Sep 5, 2014
Jackpot:$33,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$496,697$144,219$29,752$322,726
2$521,532$152,911$31,240$337,381
3$547,609$162,038$32,802$352,769
4$574,989$171,621$34,442$368,926
5$603,739$181,683$36,164$385,891
6$633,926$192,740$37,972$403,213
7$665,622$204,468$39,871$421,283
8$698,903$216,782$41,864$440,257
9$733,848$229,712$43,958$460,179
10$770,541$243,288$46,155$481,097
11$809,068$257,543$48,463$503,062
12$849,521$272,511$50,886$526,124
13$891,997$288,227$53,431$550,340
14$936,597$304,729$56,102$575,766
15$983,427$322,056$58,907$602,464
16$1,032,598$340,249$61,853$630,496
17$1,084,228$359,352$64,945$659,931
18$1,138,439$379,410$68,193$690,837
19$1,195,361$400,471$71,602$723,288
20$1,255,129$422,586$75,182$757,362
21$1,317,886$445,806$78,941$793,139
22$1,383,780$470,186$82,888$830,705
23$1,452,969$495,786$87,033$870,150
24$1,525,618$522,666$91,385$911,567
25$1,601,899$550,890$95,954$955,055
26$1,681,994$580,525$100,751$1,000,717
27$1,766,093$611,642$105,789$1,048,662
28$1,854,398$644,315$111,078$1,099,004
29$1,947,118$678,621$116,632$1,151,864
30$2,044,474$714,643$122,464$1,207,367
Total$33,000,000$10,961,676$1,976,699$20,061,622

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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.