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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for May 29, 2020

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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 $336,000,000 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:Fri, May 29, 2020
Jackpot:$336,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,057,282$1,835,267$302,931$2,919,084
2$5,310,146$1,928,826$318,078$3,063,242
3$5,575,654$2,027,064$333,982$3,214,608
4$5,854,436$2,130,214$350,681$3,373,542
5$6,147,158$2,238,521$368,215$3,540,423
6$6,454,516$2,352,243$386,626$3,715,647
7$6,777,242$2,471,652$405,957$3,899,633
8$7,116,104$2,597,031$426,255$4,092,819
9$7,471,909$2,728,679$447,567$4,295,663
10$7,845,505$2,866,909$469,946$4,508,650
11$8,237,780$3,012,051$493,443$4,732,286
12$8,649,669$3,164,450$518,115$4,967,104
13$9,082,152$3,324,469$544,021$5,213,663
14$9,536,260$3,492,488$571,222$5,472,550
15$10,013,073$3,668,909$599,783$5,744,381
16$10,513,727$3,854,151$629,772$6,029,803
17$11,039,413$4,048,655$661,261$6,329,497
18$11,591,383$4,252,884$694,324$6,644,175
19$12,170,953$4,467,325$729,040$6,974,588
20$12,779,500$4,692,487$765,492$7,321,521
21$13,418,475$4,928,908$803,767$7,685,800
22$14,089,399$5,177,150$843,955$8,068,294
23$14,793,869$5,437,804$886,153$8,469,912
24$15,533,562$5,711,490$930,460$8,891,612
25$16,310,240$5,998,861$976,983$9,334,396
26$17,125,753$6,300,601$1,025,833$9,799,319
27$17,982,040$6,617,427$1,077,124$10,287,489
28$18,881,142$6,950,095$1,130,980$10,800,067
29$19,825,199$7,299,396$1,187,529$11,338,274
30$20,816,459$7,666,162$1,246,906$11,903,391
Total$336,000,001$123,242,169$20,126,401$192,631,433

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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.