USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Sep 20, 1997

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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 $19,200,000 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, Sep 20, 1997
Jackpot:$19,200,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$342,338$90,193$20,506$231,639
2$356,031$94,986$21,326$239,719
3$370,273$99,970$22,179$248,123
4$385,084$105,154$23,067$256,863
5$400,487$110,545$23,989$265,953
6$416,506$116,152$24,949$275,406
7$433,167$121,983$25,947$285,237
8$450,493$128,047$26,985$295,461
9$468,513$134,354$28,064$306,095
10$487,254$140,914$29,186$317,154
11$506,744$147,735$30,354$328,655
12$527,013$154,829$31,568$340,616
13$548,094$162,208$32,831$353,056
14$570,018$169,881$34,144$365,993
15$592,818$177,861$35,510$379,447
16$616,531$186,304$36,930$393,297
17$641,192$195,429$38,407$407,356
18$666,840$204,919$39,944$421,978
19$693,514$214,788$41,541$437,184
20$721,254$225,052$43,203$452,999
21$750,105$235,726$44,931$469,447
22$780,109$246,828$46,729$486,552
23$811,313$258,374$48,598$504,342
24$843,766$270,381$50,542$522,843
25$877,516$282,869$52,563$542,084
26$912,617$295,856$54,666$562,095
27$949,121$309,363$56,852$582,906
28$987,086$323,410$59,126$604,550
29$1,026,570$338,019$61,492$627,060
30$1,067,633$353,212$63,951$650,470
Total$19,200,000$5,895,342$1,150,080$12,154,580

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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.