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Powerball Annuity Jackpot Analysis for Rhode Island

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The Powerball annuity jackpot is awarded according to an increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $176,000,000 would be for a resident of 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 final tax burden, which may vary depending on how the winner chooses to invest or dispense their prize money.  (For example, if the winner gave all their fortune to charity, they may actually end up getting money back that was initially withheld, whereas someone who buys a new mansion and a fleet of new cars would probably end up owing more taxes than shown.)

State:

Rhode Island

Drawing Date:  Sat, Feb 13, 2016
Jackpot:$176,000,000
Federal Tax:  25%
State Tax:5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,649,053$662,263$158,678$1,828,111
2$2,781,505$695,376$166,612$1,919,517
3$2,920,580$730,145$174,943$2,015,493
4$3,066,610$766,652$183,690$2,116,267
5$3,219,940$804,985$192,874$2,222,081
6$3,380,937$845,234$202,518$2,333,185
7$3,549,984$887,496$212,644$2,449,844
8$3,727,483$931,871$223,276$2,572,336
9$3,913,857$978,464$234,440$2,700,953
10$4,109,550$1,027,388$246,162$2,836,000
11$4,315,028$1,078,757$258,470$2,977,801
12$4,530,779$1,132,695$271,394$3,126,691
13$4,757,318$1,189,329$284,963$3,283,025
14$4,995,184$1,248,796$299,212$3,447,176
15$5,244,943$1,311,236$314,172$3,619,535
16$5,507,190$1,376,798$329,881$3,800,512
17$5,782,550$1,445,637$346,375$3,990,537
18$6,071,677$1,517,919$363,693$4,190,064
19$6,375,261$1,593,815$381,878$4,399,568
20$6,694,024$1,673,506$400,972$4,619,546
21$7,028,725$1,757,181$421,021$4,850,523
22$7,380,161$1,845,040$442,072$5,093,049
23$7,749,169$1,937,292$464,175$5,347,702
24$8,136,628$2,034,157$487,384$5,615,087
25$8,543,459$2,135,865$511,753$5,895,841
26$8,970,632$2,242,658$537,341$6,190,633
27$9,419,164$2,354,791$564,208$6,500,165
28$9,890,122$2,472,531$592,418$6,825,173
29$10,384,628$2,596,157$622,039$7,166,432
30$10,903,860$2,725,965$653,141$7,524,754
Total$176,000,000$44,000,000$10,542,400$121,457,600
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