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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jul 11, 2023

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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 $500,000,000 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, Jul 11, 2023
Jackpot:$500,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,525,718$2,742,703$450,790$4,332,224
2$7,902,004$2,881,929$473,330$4,546,744
3$8,297,104$3,028,116$496,996$4,771,991
4$8,711,959$3,181,613$521,846$5,008,500
5$9,147,557$3,342,784$547,939$5,256,834
6$9,604,935$3,512,014$575,336$5,517,585
7$10,085,182$3,689,705$604,102$5,791,374
8$10,589,441$3,876,281$634,307$6,078,852
9$11,118,913$4,072,185$666,023$6,380,704
10$11,674,858$4,277,885$699,324$6,697,649
11$12,258,601$4,493,870$734,290$7,030,441
12$12,871,531$4,720,654$771,005$7,379,872
13$13,515,108$4,958,778$809,555$7,746,775
14$14,190,863$5,208,807$850,033$8,132,023
15$14,900,406$5,471,338$892,534$8,536,534
16$15,645,427$5,746,996$937,161$8,961,270
17$16,427,698$6,036,436$984,019$9,407,243
18$17,249,083$6,340,348$1,033,220$9,875,514
19$18,111,537$6,659,456$1,084,881$10,367,199
20$19,017,114$6,994,520$1,139,125$10,883,469
21$19,967,969$7,346,336$1,196,081$11,425,551
22$20,966,368$7,715,744$1,255,885$11,994,738
23$22,014,686$8,103,622$1,318,680$12,592,385
24$23,115,420$8,510,893$1,384,614$13,219,913
25$24,271,191$8,938,528$1,453,844$13,878,818
26$25,484,751$9,387,546$1,526,537$14,570,669
27$26,758,989$9,859,013$1,602,863$15,297,112
28$28,096,938$10,354,055$1,683,007$16,059,876
29$29,501,785$10,873,848$1,767,157$16,860,780
30$30,976,874$11,419,631$1,855,515$17,701,728
Total$500,000,001$183,745,634$29,949,999$286,304,367

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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.