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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Oct 6, 2023

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The tax information provided here is based on 2025 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 $360,000,000 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, Oct 6, 2023
Jackpot:$360,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,418,517$1,961,871$324,569$3,132,076
2$5,689,443$2,062,114$340,798$3,286,531
3$5,973,915$2,167,369$357,837$3,448,708
4$6,272,610$2,277,886$375,729$3,618,995
5$6,586,241$2,393,929$394,516$3,797,796
6$6,915,553$2,515,775$414,242$3,985,536
7$7,261,331$2,643,713$434,954$4,182,664
8$7,624,397$2,778,047$456,701$4,389,649
9$8,005,617$2,919,099$479,536$4,606,982
10$8,405,898$3,067,202$503,513$4,835,182
11$8,826,193$3,222,712$528,689$5,074,792
12$9,267,502$3,385,996$555,123$5,326,383
13$9,730,877$3,557,445$582,880$5,590,553
14$10,217,421$3,737,466$612,024$5,867,932
15$10,728,292$3,926,488$642,625$6,159,179
16$11,264,707$4,124,962$674,756$6,464,989
17$11,827,942$4,333,359$708,494$6,786,090
18$12,419,339$4,552,176$743,918$7,123,245
19$13,040,306$4,781,934$781,114$7,477,258
20$13,692,322$5,023,179$820,170$7,848,972
21$14,376,938$5,276,487$861,179$8,239,272
22$15,095,785$5,542,461$904,237$8,649,087
23$15,850,574$5,821,733$949,449$9,079,392
24$16,643,102$6,114,968$996,922$9,531,212
25$17,475,258$6,422,866$1,046,768$10,005,624
26$18,349,021$6,746,158$1,099,106$10,503,756
27$19,266,472$7,085,615$1,154,062$11,026,795
28$20,229,795$7,442,044$1,211,765$11,575,986
29$21,241,285$7,816,296$1,272,353$12,152,636
30$22,303,349$8,209,259$1,335,971$12,758,119
Total$360,000,001$131,910,609$21,564,000$206,525,391

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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.