USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Dec 21, 1996

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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 $41,600,000 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, Dec 21, 1996
Jackpot:$41,600,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$741,732$232,629$44,430$464,674
2$771,401$243,606$46,207$481,588
3$802,257$255,023$48,055$499,179
4$834,348$266,896$49,977$517,474
5$867,722$279,245$51,977$536,500
6$902,431$292,087$54,056$556,288
7$938,528$305,443$56,218$576,867
8$976,069$319,333$58,467$598,269
9$1,015,112$333,779$60,805$620,527
10$1,055,716$348,803$63,237$643,676
11$1,097,945$364,427$65,767$667,751
12$1,141,863$380,677$68,398$692,788
13$1,187,537$397,576$71,133$718,827
14$1,235,039$415,152$73,979$745,908
15$1,284,440$433,431$76,938$774,072
16$1,335,818$452,440$80,015$803,362
17$1,389,250$472,210$83,216$833,824
18$1,444,820$492,771$86,545$865,504
19$1,502,613$514,155$90,007$898,452
20$1,562,718$536,393$93,607$932,718
21$1,625,226$559,522$97,351$968,354
22$1,690,235$583,575$101,245$1,005,415
23$1,757,845$608,590$105,295$1,043,960
24$1,828,159$634,606$109,507$1,084,046
25$1,901,285$661,663$113,887$1,125,735
26$1,977,336$689,802$118,442$1,169,092
27$2,056,430$719,067$123,180$1,214,183
28$2,138,687$749,502$128,107$1,261,078
29$2,224,235$781,155$133,232$1,309,848
30$2,313,204$814,073$138,561$1,360,570
Total$41,600,000$14,137,631$2,491,841$24,970,529

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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.