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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jul 4, 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 $400,000,000 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 4, 2023
Jackpot:$400,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$6,020,574$2,185,800$360,632$3,474,141
2$6,321,603$2,297,181$378,664$3,645,758
3$6,637,683$2,414,130$397,597$3,825,955
4$6,969,567$2,536,928$417,477$4,015,163
5$7,318,045$2,665,864$438,351$4,213,830
6$7,683,948$2,801,248$460,268$4,422,431
7$8,068,145$2,943,401$483,282$4,641,462
8$8,471,552$3,092,662$507,446$4,871,444
9$8,895,130$3,249,386$532,818$5,112,926
10$9,339,886$3,413,946$559,459$5,366,481
11$9,806,881$3,586,734$587,432$5,632,715
12$10,297,225$3,768,161$616,804$5,912,260
13$10,812,086$3,958,660$647,644$6,205,782
14$11,352,690$4,158,683$680,026$6,513,981
15$11,920,325$4,368,708$714,027$6,837,589
16$12,516,341$4,589,234$749,729$7,177,378
17$13,142,158$4,820,786$787,215$7,534,157
18$13,799,266$5,063,916$826,576$7,908,774
19$14,489,229$5,319,203$867,905$8,302,122
20$15,213,691$5,587,253$911,300$8,715,137
21$15,974,375$5,868,707$956,865$9,148,804
22$16,773,094$6,164,233$1,004,708$9,604,153
23$17,611,749$6,474,535$1,054,944$10,082,270
24$18,492,336$6,800,352$1,107,691$10,584,293
25$19,416,953$7,142,460$1,163,075$11,111,417
26$20,387,801$7,501,674$1,221,229$11,664,897
27$21,407,191$7,878,848$1,282,291$12,246,052
28$22,477,550$8,274,881$1,346,405$12,856,264
29$23,601,428$8,690,716$1,413,726$13,496,986
30$24,781,499$9,127,342$1,484,412$14,169,745
Total$400,000,001$146,745,632$23,959,998$229,294,367

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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.