USA Mega

Rhode Island Mega Millions Jackpot Annuity Payout Schedule for Aug 20, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $498,000,000 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, Aug 20, 2024
Jackpot:$498,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$7,495,615$2,731,565$448,987$4,315,062
2$7,870,395$2,870,234$471,437$4,528,725
3$8,263,915$3,015,836$495,009$4,753,070
4$8,677,111$3,168,719$519,759$4,988,633
5$9,110,966$3,329,245$545,747$5,235,974
6$9,566,515$3,497,798$573,034$5,495,682
7$10,044,841$3,674,779$601,686$5,768,376
8$10,547,083$3,860,608$631,770$6,054,704
9$11,074,437$4,055,729$663,359$6,355,349
10$11,628,159$4,260,606$696,527$6,671,025
11$12,209,567$4,475,727$731,353$7,002,486
12$12,820,045$4,701,604$767,921$7,350,520
13$13,461,047$4,938,775$806,317$7,715,955
14$14,134,100$5,187,805$846,633$8,099,662
15$14,840,804$5,449,285$888,964$8,502,555
16$15,582,845$5,723,840$933,412$8,925,592
17$16,361,987$6,012,123$980,083$9,369,781
18$17,180,086$6,314,820$1,029,087$9,836,179
19$18,039,090$6,632,651$1,080,542$10,325,898
20$18,941,045$6,966,374$1,134,569$10,840,102
21$19,888,097$7,316,784$1,191,297$11,380,016
22$20,882,502$7,684,714$1,250,862$11,946,927
23$21,926,627$8,071,040$1,313,405$12,542,182
24$23,022,958$8,476,682$1,379,075$13,167,201
25$24,174,106$8,902,607$1,448,029$13,823,470
26$25,382,812$9,349,828$1,520,430$14,512,553
27$26,651,953$9,819,410$1,596,452$15,236,090
28$27,984,550$10,312,471$1,676,275$15,995,804
29$29,383,777$10,830,185$1,760,088$16,793,504
30$30,852,967$11,373,785$1,848,093$17,631,088
Total$498,000,001$183,005,629$29,830,202$285,164,165

◄ Back to Jackpot Analysis

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.