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Rhode Island Powerball Jackpot Annuity Payout Schedule for Feb 21, 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 $348,000,000 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:Wed, Feb 21, 2024
Jackpot:$348,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,237,899$1,896,211$313,750$3,027,939
2$5,499,794$1,993,112$329,438$3,177,245
3$5,774,784$2,094,858$345,910$3,334,017
4$6,063,523$2,201,691$363,205$3,498,627
5$6,366,699$2,313,866$381,365$3,671,468
6$6,685,034$2,431,650$400,434$3,852,950
7$7,019,286$2,555,324$420,455$4,043,507
8$7,370,251$2,685,180$441,478$4,243,592
9$7,738,763$2,821,530$463,552$4,453,681
10$8,125,701$2,964,697$486,729$4,674,274
11$8,531,986$3,115,023$511,066$4,905,898
12$8,958,586$3,272,864$536,619$5,149,102
13$9,406,515$3,438,598$563,450$5,404,466
14$9,876,841$3,612,619$591,623$5,672,599
15$10,370,683$3,795,340$621,204$5,954,138
16$10,889,217$3,987,198$652,264$6,249,755
17$11,433,677$4,188,648$684,877$6,560,152
18$12,005,361$4,400,171$719,121$6,886,069
19$12,605,629$4,622,271$755,077$7,228,282
20$13,235,911$4,855,475$792,831$7,587,605
21$13,897,706$5,100,339$832,473$7,964,895
22$14,592,592$5,357,447$874,096$8,361,049
23$15,322,221$5,627,410$917,801$8,777,011
24$16,088,332$5,910,871$963,691$9,213,771
25$16,892,749$6,208,505$1,011,876$9,672,368
26$17,737,387$6,521,021$1,062,469$10,153,896
27$18,624,256$6,849,162$1,115,593$10,659,501
28$19,555,469$7,193,711$1,171,373$11,190,385
29$20,533,242$7,555,487$1,229,941$11,747,814
30$21,559,904$7,935,352$1,291,438$12,333,114
Total$348,000,001$127,505,631$20,845,199$199,649,170

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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.