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Rhode Island Powerball Jackpot Annuity Payout Schedule for Jan 20, 2021

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The tax information provided here is based on 2021 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 Powerball 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 $730,000,000 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 prize money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Wed, Jan 20, 2021
Jackpot:$730,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$10,987,548$4,029,465$658,154$6,299,929
2$11,536,925$4,232,735$691,062$6,613,129
3$12,113,771$4,446,168$725,615$6,941,989
4$12,719,460$4,670,273$761,896$7,287,292
5$13,355,432$4,905,582$799,990$7,649,860
6$14,023,204$5,152,658$839,990$8,030,557
7$14,724,365$5,412,087$881,989$8,430,288
8$15,460,583$5,684,488$926,089$8,850,006
9$16,233,612$5,970,509$972,393$9,290,710
10$17,045,293$6,270,831$1,021,013$9,753,449
11$17,897,557$6,586,169$1,072,064$10,239,325
12$18,792,435$6,917,273$1,125,667$10,749,495
13$19,732,057$7,264,933$1,181,950$11,285,173
14$20,718,660$7,629,976$1,241,048$11,847,636
15$21,754,593$8,013,272$1,303,100$12,438,221
16$22,842,323$8,415,732$1,368,255$13,058,336
17$23,984,438$8,838,314$1,436,668$13,709,456
18$25,183,660$9,282,027$1,508,501$14,393,133
19$26,442,843$9,747,924$1,583,926$15,110,993
20$27,764,986$10,237,117$1,663,123$15,864,746
21$29,153,235$10,750,769$1,746,279$16,656,187
22$30,610,897$11,290,104$1,833,593$17,487,200
23$32,141,442$11,856,406$1,925,272$18,359,764
24$33,748,513$12,451,022$2,021,536$19,275,955
25$35,435,939$13,075,370$2,122,613$20,237,956
26$37,207,736$13,730,935$2,228,743$21,248,058
27$39,068,123$14,419,278$2,340,181$22,308,665
28$41,021,529$15,142,038$2,457,190$23,422,301
29$43,072,605$15,900,936$2,580,049$24,591,620
30$45,226,236$16,697,780$2,709,052$25,819,405
Total$730,000,001$269,022,171$43,727,001$417,250,834

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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.