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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jul 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 $660,000,000 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, Jul 22, 2022
Jackpot:$660,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,933,947$3,633,748$595,043$5,705,155
2$10,430,645$3,817,526$624,796$5,988,323
3$10,952,177$4,010,493$656,035$6,285,648
4$11,499,786$4,213,109$688,837$6,597,840
5$12,074,775$4,425,854$723,279$6,925,641
6$12,678,514$4,649,238$759,443$7,269,833
7$13,312,440$4,883,790$797,415$7,631,234
8$13,978,061$5,130,070$837,286$8,010,705
9$14,676,965$5,388,665$879,150$8,409,150
10$15,410,813$5,660,188$923,108$8,827,516
11$16,181,353$5,945,288$969,263$9,266,802
12$16,990,421$6,244,643$1,017,726$9,728,051
13$17,839,942$6,558,966$1,068,613$10,212,363
14$18,731,939$6,889,005$1,122,043$10,720,891
15$19,668,536$7,235,546$1,178,145$11,254,845
16$20,651,963$7,599,414$1,237,053$11,815,496
17$21,684,561$7,981,475$1,298,905$12,404,180
18$22,768,789$8,382,640$1,363,850$13,022,299
19$23,907,228$8,803,862$1,432,043$13,671,323
20$25,102,590$9,246,146$1,503,645$14,352,799
21$26,357,719$9,710,544$1,578,827$15,068,348
22$27,675,605$10,198,162$1,657,769$15,819,675
23$29,059,386$10,710,160$1,740,657$16,608,568
24$30,512,354$11,247,759$1,827,690$17,436,905
25$32,037,972$11,812,237$1,919,075$18,306,660
26$33,639,871$12,404,940$2,015,028$19,219,903
27$35,321,865$13,027,278$2,115,780$20,178,807
28$37,087,958$13,680,732$2,221,569$21,185,657
29$38,942,356$14,366,859$2,332,647$22,242,849
30$40,889,474$15,087,293$2,449,279$23,352,901
Total$660,000,001$242,945,630$39,533,999$377,520,367

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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.