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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 2022 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 prize 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$1,405,334$233,509$2,259,478
2$4,093,238$1,477,453$245,185$2,370,600
3$4,297,900$1,553,178$257,444$2,487,278
4$4,512,795$1,632,689$270,316$2,609,789
5$4,738,434$1,716,176$283,832$2,738,426
6$4,975,356$1,803,837$298,024$2,873,495
7$5,224,124$1,895,881$312,925$3,015,318
8$5,485,330$1,992,527$328,571$3,164,232
9$5,759,597$2,094,006$345,000$3,320,591
10$6,047,576$2,200,558$362,250$3,484,768
11$6,349,955$2,312,438$380,362$3,657,155
12$6,667,453$2,429,913$399,380$3,838,160
13$7,000,826$2,553,261$419,349$4,028,216
14$7,350,867$2,682,776$440,317$4,227,774
15$7,718,410$2,818,767$462,333$4,437,311
16$8,104,331$2,961,557$485,449$4,657,324
17$8,509,547$3,111,488$509,722$4,888,338
18$8,935,025$3,268,914$535,208$5,130,903
19$9,381,776$3,434,212$561,968$5,385,595
20$9,850,865$3,607,775$590,067$5,653,023
21$10,343,408$3,790,016$619,570$5,933,822
22$10,860,578$3,981,369$650,549$6,228,661
23$11,403,607$4,182,290$683,076$6,538,242
24$11,973,788$4,393,256$717,230$6,863,301
25$12,572,477$4,614,771$753,091$7,204,614
26$13,201,101$4,847,362$790,746$7,562,993
27$13,861,156$5,091,583$830,283$7,939,290
28$14,554,214$5,348,014$871,797$8,334,402
29$15,281,924$5,617,267$915,387$8,749,270
30$16,046,021$5,899,983$961,157$9,184,881
Total$259,000,001$94,718,651$15,514,097$148,767,250

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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.