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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Nov 22, 2022

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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 $259,000,000 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:Tue, Nov 22, 2022
Jackpot:$259,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,898,322$1,400,567$233,509$2,264,245
2$4,093,238$1,472,686$245,185$2,375,367
3$4,297,900$1,548,411$257,444$2,492,045
4$4,512,795$1,627,922$270,316$2,614,557
5$4,738,434$1,711,408$283,832$2,743,194
6$4,975,356$1,799,069$298,024$2,878,263
7$5,224,124$1,891,114$312,925$3,020,085
8$5,485,330$1,987,760$328,571$3,168,999
9$5,759,597$2,089,239$345,000$3,325,358
10$6,047,576$2,195,791$362,250$3,489,536
11$6,349,955$2,307,671$380,362$3,661,922
12$6,667,453$2,425,145$399,380$3,842,927
13$7,000,826$2,548,493$419,349$4,032,983
14$7,350,867$2,678,009$440,317$4,232,542
15$7,718,410$2,814,000$462,333$4,442,078
16$8,104,331$2,956,790$485,449$4,662,091
17$8,509,547$3,106,720$509,722$4,893,105
18$8,935,025$3,264,147$535,208$5,135,670
19$9,381,776$3,429,445$561,968$5,390,363
20$9,850,865$3,603,008$590,067$5,657,790
21$10,343,408$3,785,249$619,570$5,938,589
22$10,860,578$3,976,602$650,549$6,233,428
23$11,403,607$4,177,522$683,076$6,543,009
24$11,973,788$4,388,489$717,230$6,868,069
25$12,572,477$4,610,004$753,091$7,209,381
26$13,201,101$4,842,595$790,746$7,567,760
27$13,861,156$5,086,815$830,283$7,944,057
28$14,554,214$5,343,247$871,797$8,339,169
29$15,281,924$5,612,500$915,387$8,754,037
30$16,046,021$5,895,215$961,157$9,189,649
Total$259,000,001$94,575,633$15,514,097$148,910,268

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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.