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Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Jul 5, 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 $162,000,000 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, Jul 5, 2024
Jackpot:$162,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,438,332$860,371$146,056$1,431,906
2$2,560,249$905,480$153,359$1,501,410
3$2,688,262$952,845$161,027$1,574,390
4$2,822,675$1,002,577$169,078$1,651,019
5$2,963,808$1,054,797$177,532$1,731,479
6$3,111,999$1,109,627$186,409$1,815,963
7$3,267,599$1,167,199$195,729$1,904,670
8$3,430,979$1,227,650$205,516$1,997,813
9$3,602,528$1,291,123$215,791$2,095,613
10$3,782,654$1,357,770$226,581$2,198,303
11$3,971,787$1,427,749$237,910$2,306,128
12$4,170,376$1,501,227$249,806$2,419,344
13$4,378,895$1,578,379$262,296$2,538,220
14$4,597,840$1,659,388$275,411$2,663,041
15$4,827,732$1,744,448$289,181$2,794,102
16$5,069,118$1,833,761$303,640$2,931,717
17$5,322,574$1,927,540$318,822$3,076,212
18$5,588,703$2,026,008$334,763$3,227,932
19$5,868,138$2,129,399$351,501$3,387,238
20$6,161,545$2,237,959$369,077$3,554,509
21$6,469,622$2,351,948$387,530$3,730,144
22$6,793,103$2,471,636$406,907$3,914,560
23$7,132,758$2,597,308$427,252$4,108,198
24$7,489,396$2,729,264$448,615$4,311,517
25$7,863,866$2,867,818$471,046$4,525,002
26$8,257,059$3,013,300$494,598$4,749,162
27$8,669,912$3,166,055$519,328$4,984,529
28$9,103,408$3,326,449$545,294$5,231,665
29$9,558,578$3,494,862$572,559$5,491,158
30$10,036,507$3,671,695$601,187$5,763,625
Total$162,000,000$58,685,632$9,703,801$93,610,569

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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.