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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jan 1, 2021

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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 $401,000,000 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 1, 2021
Jackpot:$401,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,035,625$2,191,369$361,534$3,482,722
2$6,337,407$2,303,028$379,611$3,654,768
3$6,654,277$2,420,270$398,591$3,835,416
4$6,986,991$2,543,374$418,521$4,025,096
5$7,336,340$2,672,634$439,447$4,224,260
6$7,703,157$2,808,356$461,419$4,433,382
7$8,088,316$2,950,865$484,490$4,652,961
8$8,492,731$3,100,498$508,715$4,883,518
9$8,917,368$3,257,614$534,150$5,125,604
10$9,363,236$3,422,585$560,858$5,379,793
11$9,831,398$3,595,805$588,901$5,646,692
12$10,322,968$3,777,686$618,346$5,926,936
13$10,839,116$3,968,661$649,263$6,221,192
14$11,381,072$4,169,184$681,726$6,530,161
15$11,950,126$4,379,734$715,813$6,854,579
16$12,547,632$4,600,812$751,603$7,195,217
17$13,175,013$4,832,943$789,183$7,552,887
18$13,833,764$5,076,680$828,642$7,928,441
19$14,525,452$5,332,605$870,075$8,322,773
20$15,251,725$5,601,326$913,578$8,736,821
21$16,014,311$5,883,483$959,257$9,171,571
22$16,815,027$6,179,748$1,007,220$9,628,059
23$17,655,778$6,490,826$1,057,581$10,107,371
24$18,538,567$6,817,457$1,110,460$10,610,649
25$19,465,495$7,160,421$1,165,983$11,139,091
26$20,438,770$7,520,533$1,224,282$11,693,955
27$21,460,709$7,898,650$1,285,496$12,276,562
28$22,533,744$8,295,673$1,349,771$12,888,300
29$23,660,431$8,712,547$1,417,260$13,530,624
30$24,843,453$9,150,265$1,488,123$14,205,065
Total$401,000,001$147,115,632$24,019,899$229,864,466

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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.