USA Mega
Home of Mega Millions and Powerball, the USA's biggest multi-state lottery games.
Marketplace

Powerball Annuity Jackpot Analysis for Rhode Island (Jul. 29, 2020 Drawing)

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

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 $126,000,000 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:  Jul. 29, 2020
Jackpot:$126,000,000
Federal Tax:  24%
State Tax:5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,896,481$455,155$113,599$1,327,726
2$1,991,305$477,913$119,279$1,394,113
3$2,090,870$501,809$125,243$1,463,818
4$2,195,414$526,899$131,505$1,537,009
5$2,305,184$553,244$138,081$1,613,859
6$2,420,443$580,906$144,985$1,694,552
7$2,541,466$609,952$152,234$1,779,280
8$2,668,539$640,449$159,845$1,868,244
9$2,801,966$672,472$167,838$1,961,656
10$2,942,064$706,095$176,230$2,059,739
11$3,089,167$741,400$185,041$2,162,726
12$3,243,626$778,470$194,293$2,270,862
13$3,405,807$817,394$204,008$2,384,406
14$3,576,097$858,263$214,208$2,503,626
15$3,754,902$901,177$224,919$2,628,807
16$3,942,647$946,235$236,165$2,760,247
17$4,139,780$993,547$247,973$2,898,260
18$4,346,769$1,043,225$260,371$3,043,173
19$4,564,107$1,095,386$273,390$3,195,331
20$4,792,313$1,150,155$287,060$3,355,098
21$5,031,928$1,207,663$301,412$3,522,853
22$5,283,525$1,268,046$316,483$3,698,996
23$5,547,701$1,331,448$332,307$3,883,945
24$5,825,086$1,398,021$348,923$4,078,143
25$6,116,340$1,467,922$366,369$4,282,050
26$6,422,157$1,541,318$384,687$4,496,152
27$6,743,265$1,618,384$403,922$4,720,960
28$7,080,428$1,699,303$424,118$4,957,008
29$7,434,450$1,784,268$445,324$5,204,858
30$7,806,172$1,873,481$467,590$5,465,101
Total$126,000,000$30,240,000$7,547,400$88,212,600
<( Back )Powerball Jackpot Analysis
(Current Drawing)
Top ^



Accuracy Statement  |  Advertise  |  Privacy Policy  |  Site Map  |  DMCA  |  Terms of Use
Copyright © 1999-2020 Speednet Group.  All rights reserved.