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Rhode Island Powerball Jackpot Annuity Payout Schedule for Oct 16, 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 $60,000,000 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:Sat, Oct 16, 2021
Jackpot:$60,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$903,086$298,214$54,095$550,777
2$948,240$314,921$56,800$576,520
3$995,652$332,464$59,640$603,549
4$1,045,435$350,883$62,622$631,930
5$1,097,707$370,224$65,753$661,730
6$1,152,592$390,531$69,040$693,021
7$1,210,222$411,854$72,492$725,875
8$1,270,733$434,243$76,117$760,373
9$1,334,270$457,752$79,923$796,595
10$1,400,983$482,436$83,919$834,628
11$1,471,032$508,354$88,115$874,563
12$1,544,584$535,568$92,521$916,495
13$1,621,813$564,143$97,147$960,523
14$1,702,904$594,147$102,004$1,006,753
15$1,788,049$625,650$107,104$1,055,294
16$1,877,451$658,729$112,459$1,106,263
17$1,971,324$693,462$118,082$1,159,779
18$2,069,890$729,932$123,986$1,215,972
19$2,173,384$768,224$130,186$1,274,974
20$2,282,054$808,432$136,695$1,336,927
21$2,396,156$850,650$143,530$1,401,976
22$2,515,964$894,979$150,706$1,470,279
23$2,641,762$941,524$158,242$1,541,996
24$2,773,850$990,397$166,154$1,617,300
25$2,912,543$1,041,713$174,461$1,696,368
26$3,058,170$1,095,595$183,184$1,779,391
27$3,211,079$1,152,171$192,344$1,866,564
28$3,371,633$1,211,576$201,961$1,958,095
29$3,540,214$1,273,951$212,059$2,054,204
30$3,717,225$1,339,445$222,662$2,155,118
Total$60,000,000$21,122,164$3,594,003$35,283,832

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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.