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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Mar 22, 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 $977,000,000 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, Mar 22, 2024
Jackpot:$977,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$14,705,252$5,399,131$880,845$8,425,276
2$15,440,515$5,671,178$924,887$8,844,450
3$16,212,540$5,956,828$971,131$9,284,581
4$17,023,168$6,256,760$1,019,688$9,746,720
5$17,874,325$6,571,688$1,070,672$10,231,965
6$18,768,042$6,902,363$1,124,206$10,741,473
7$19,706,445$7,249,572$1,180,416$11,276,456
8$20,691,767$7,614,141$1,239,437$11,838,188
9$21,726,355$7,996,939$1,301,409$12,428,007
10$22,812,673$8,398,877$1,366,479$13,047,317
11$23,953,306$8,820,911$1,434,803$13,697,592
12$25,150,972$9,264,047$1,506,543$14,380,381
13$26,408,520$9,729,340$1,581,870$15,097,310
14$27,728,946$10,217,898$1,660,964$15,850,085
15$29,115,393$10,730,883$1,744,012$16,640,498
16$30,571,163$11,269,518$1,831,213$17,470,432
17$32,099,721$11,835,084$1,922,773$18,341,863
18$33,704,707$12,428,929$2,018,912$19,256,866
19$35,389,942$13,052,466$2,119,858$20,217,618
20$37,159,440$13,707,180$2,225,850$21,226,409
21$39,017,411$14,394,630$2,337,143$22,285,639
22$40,968,282$15,116,452$2,454,000$23,397,830
23$43,016,696$15,874,365$2,576,700$24,565,631
24$45,167,531$16,670,174$2,705,535$25,791,821
25$47,425,907$17,505,773$2,840,812$27,079,322
26$49,797,203$18,383,153$2,982,852$28,431,198
27$52,287,064$19,304,401$3,131,995$29,850,667
28$54,901,416$20,271,712$3,288,595$31,341,109
29$57,646,487$21,287,388$3,453,025$32,906,074
30$60,528,812$22,353,848$3,625,676$34,549,288
Total$977,000,002$360,235,629$58,522,301$558,242,066

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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.