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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jul 23, 2021

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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 $140,000,000 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, Jul 23, 2021
Jackpot:$140,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,107,201$743,737$126,221$1,237,243
2$2,212,561$782,720$132,532$1,297,309
3$2,323,189$823,652$139,159$1,360,378
4$2,439,349$866,631$146,117$1,426,600
5$2,561,316$911,759$153,423$1,496,134
6$2,689,382$959,143$161,094$1,569,144
7$2,823,851$1,008,897$169,149$1,645,805
8$2,965,043$1,061,138$177,606$1,726,299
9$3,113,296$1,115,992$186,486$1,810,818
10$3,268,960$1,173,588$195,811$1,899,562
11$3,432,408$1,234,063$205,601$1,992,744
12$3,604,029$1,297,563$215,881$2,090,585
13$3,784,230$1,364,237$226,675$2,193,317
14$3,973,442$1,434,246$238,009$2,301,187
15$4,172,114$1,507,754$249,910$2,414,450
16$4,380,719$1,584,938$262,405$2,533,376
17$4,599,755$1,665,982$275,525$2,658,248
18$4,829,743$1,751,077$289,302$2,789,364
19$5,071,230$1,840,427$303,767$2,927,036
20$5,324,792$1,934,245$318,955$3,071,592
21$5,591,031$2,032,754$334,903$3,223,375
22$5,870,583$2,136,188$351,648$3,382,747
23$6,164,112$2,244,794$369,230$3,550,088
24$6,472,318$2,358,830$387,692$3,725,796
25$6,795,933$2,478,568$407,076$3,910,289
26$7,135,730$2,604,292$427,430$4,104,008
27$7,492,517$2,736,303$448,802$4,307,412
28$7,867,143$2,874,915$471,242$4,520,986
29$8,260,500$3,020,457$494,804$4,745,239
30$8,673,525$3,173,276$519,544$4,980,704
Total$140,000,000$50,722,166$8,385,999$80,891,835

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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.