USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Sep 25, 2002

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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 $14,000,000 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, Sep 25, 2002
Jackpot:$14,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$249,621$57,742$14,952$176,927
2$259,606$61,237$15,550$182,819
3$269,990$64,871$16,172$188,947
4$280,790$68,651$16,819$195,319
5$292,022$72,582$17,492$201,947
6$303,703$76,671$18,192$208,840
7$315,851$80,922$18,919$216,009
8$328,485$85,344$19,676$223,464
9$341,624$89,943$20,463$231,218
10$355,289$94,726$21,282$239,281
11$369,501$99,700$22,133$247,668
12$384,281$104,873$23,018$256,389
13$399,652$110,253$23,939$265,460
14$415,638$115,848$24,897$274,893
15$432,263$121,667$25,893$284,704
16$449,554$127,719$26,928$294,907
17$467,536$134,012$28,005$305,518
18$486,238$140,558$29,126$316,554
19$505,687$147,365$30,291$328,031
20$525,915$154,445$31,502$339,967
21$546,951$161,808$32,762$352,381
22$568,829$169,465$34,073$365,291
23$591,582$177,429$35,436$378,718
24$615,246$185,829$36,853$392,564
25$639,856$194,934$38,327$406,594
26$665,450$204,404$39,860$421,185
27$692,068$214,253$41,455$436,360
28$719,750$224,495$43,113$452,142
29$748,540$235,148$44,838$468,555
30$778,482$246,226$46,631$485,625
Total$14,000,000$4,023,120$838,597$9,138,277

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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.