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Rhode Island Powerball Jackpot Annuity Payout Schedule for Jul 20, 2024

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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 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 $91,000,000 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:Sat, Jul 20, 2024
Jackpot:$91,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,369,681$464,970$82,044$822,667
2$1,438,165$490,309$86,146$861,710
3$1,510,073$516,915$90,453$902,705
4$1,585,577$544,851$94,976$945,749
5$1,664,855$574,184$99,725$990,946
6$1,748,098$604,984$104,711$1,038,403
7$1,835,503$637,324$109,947$1,088,233
8$1,927,278$671,281$115,444$1,140,554
9$2,023,642$706,935$121,216$1,195,491
10$2,124,824$744,373$127,277$1,253,175
11$2,231,065$783,682$133,641$1,313,743
12$2,342,619$824,957$140,323$1,377,339
13$2,459,750$868,295$147,339$1,444,115
14$2,582,737$913,800$154,706$1,514,231
15$2,711,874$961,581$162,441$1,587,852
16$2,847,468$1,011,751$170,563$1,665,154
17$2,989,841$1,064,429$179,091$1,746,321
18$3,139,333$1,119,741$188,046$1,831,546
19$3,296,300$1,177,819$197,448$1,921,033
20$3,461,115$1,238,800$207,321$2,014,994
21$3,634,170$1,302,831$217,687$2,113,653
22$3,815,879$1,370,063$228,571$2,217,245
23$4,006,673$1,440,657$240,000$2,326,016
24$4,207,006$1,514,780$252,000$2,440,227
25$4,417,357$1,592,610$264,600$2,560,147
26$4,638,225$1,674,331$277,830$2,686,064
27$4,870,136$1,760,138$291,721$2,818,277
28$5,113,643$1,850,236$306,307$2,957,100
29$5,369,325$1,944,838$321,623$3,102,864
30$5,637,791$2,044,170$337,704$3,255,917
Total$91,000,000$32,415,635$5,450,901$53,133,471

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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.