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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Feb 27, 2024

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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 $563,000,000 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, Feb 27, 2024
Jackpot:$563,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,473,958$3,093,552$507,590$4,872,816
2$8,897,656$3,250,320$532,970$5,114,366
3$9,342,539$3,414,927$559,618$5,367,993
4$9,809,666$3,587,764$587,599$5,634,303
5$10,300,149$3,769,243$616,979$5,913,927
6$10,815,156$3,959,796$647,828$6,207,533
7$11,355,914$4,159,876$680,219$6,515,819
8$11,923,710$4,369,960$714,230$6,839,519
9$12,519,895$4,590,549$749,942$7,179,405
10$13,145,890$4,822,167$787,439$7,536,284
11$13,803,185$5,065,366$826,811$7,911,008
12$14,493,344$5,320,725$868,151$8,304,468
13$15,218,011$5,588,852$911,559$8,717,600
14$15,978,912$5,870,385$957,137$9,151,390
15$16,777,857$6,165,995$1,004,994$9,606,869
16$17,616,750$6,476,385$1,055,243$10,085,122
17$18,497,587$6,802,295$1,108,005$10,587,287
18$19,422,467$7,144,501$1,163,406$11,114,561
19$20,393,590$7,503,816$1,221,576$11,668,198
20$21,413,270$7,881,098$1,282,655$12,249,517
21$22,483,933$8,277,243$1,346,788$12,859,903
22$23,608,130$8,693,196$1,414,127$13,500,807
23$24,788,536$9,129,946$1,484,833$14,173,757
24$26,027,963$9,588,534$1,559,075$14,880,354
25$27,329,361$10,070,051$1,637,029$15,622,281
26$28,695,830$10,575,645$1,718,880$16,401,305
27$30,130,621$11,106,518$1,804,824$17,219,279
28$31,637,152$11,663,934$1,895,065$18,078,152
29$33,219,009$12,249,221$1,989,819$18,979,969
30$34,879,960$12,863,773$2,089,310$19,926,878
Total$563,000,001$207,055,633$33,723,701$322,220,670

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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.