USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Dec 15, 2001

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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 $16,000,000 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, Dec 15, 2001
Jackpot:$16,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$285,282$70,223$17,088$197,970
2$296,693$74,217$17,772$204,704
3$308,561$78,371$18,483$211,707
4$320,903$82,691$19,222$218,990
5$333,739$87,183$19,991$226,565
6$347,089$91,856$20,791$234,442
7$360,972$96,715$21,622$242,635
8$375,411$101,769$22,487$251,155
9$390,428$107,024$23,387$260,017
10$406,045$112,490$24,322$269,232
11$422,286$118,175$25,295$278,816
12$439,178$124,087$26,307$288,784
13$456,745$130,236$27,359$299,150
14$475,015$136,630$28,453$309,931
15$494,015$143,280$29,592$321,144
16$513,776$150,196$30,775$332,804
17$534,327$157,389$32,006$344,932
18$555,700$164,870$33,286$357,544
19$577,928$172,650$34,618$370,661
20$601,045$180,741$36,003$384,302
21$625,087$189,470$37,443$398,174
22$650,091$198,721$38,940$412,429
23$676,094$208,343$40,498$427,254
24$703,138$218,349$42,118$442,671
25$731,263$228,755$43,803$458,706
26$760,514$239,578$45,555$475,381
27$790,935$250,834$47,377$492,724
28$822,572$262,539$49,272$510,761
29$855,475$274,713$51,243$529,518
30$889,694$287,374$53,293$549,027
Total$16,000,000$4,739,469$958,401$10,302,130

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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.