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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jul 18, 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 $640,000,000 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 18, 2023
Jackpot:$640,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$9,632,918$3,521,200$577,012$5,534,707
2$10,114,564$3,699,409$605,862$5,809,293
3$10,620,292$3,886,528$636,156$6,097,608
4$11,151,308$4,083,004$667,963$6,400,340
5$11,708,872$4,289,303$701,361$6,718,208
6$12,294,316$4,505,917$736,430$7,051,969
7$12,909,032$4,733,362$773,251$7,402,419
8$13,554,484$4,972,179$811,914$7,770,391
9$14,232,208$5,222,937$852,509$8,156,762
10$14,943,818$5,486,233$895,135$8,562,451
11$15,691,009$5,762,694$939,891$8,988,424
12$16,475,560$6,052,977$986,886$9,435,696
13$17,299,338$6,357,775$1,036,230$9,905,332
14$18,164,305$6,677,813$1,088,042$10,398,450
15$19,072,520$7,013,853$1,142,444$10,916,223
16$20,026,146$7,366,694$1,199,566$11,459,886
17$21,027,453$7,737,178$1,259,544$12,030,731
18$22,078,826$8,126,186$1,322,522$12,630,118
19$23,182,767$8,534,644$1,388,648$13,259,475
20$24,341,905$8,963,525$1,458,080$13,920,300
21$25,559,000$9,413,850$1,530,984$14,614,166
22$26,836,950$9,886,692$1,607,533$15,342,725
23$28,178,798$10,383,176$1,687,910$16,107,713
24$29,587,738$10,904,483$1,772,305$16,910,949
25$31,067,124$11,451,856$1,860,921$17,754,347
26$32,620,481$12,026,598$1,953,967$18,639,916
27$34,251,505$12,630,077$2,051,665$19,569,763
28$35,964,080$13,263,730$2,154,248$20,546,102
29$37,762,284$13,929,065$2,261,961$21,571,258
30$39,650,399$14,627,668$2,375,059$22,647,672
Total$640,000,001$235,510,606$38,335,999$366,153,394

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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.