USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for May 14, 2005

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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 $112,000,000 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, May 14, 2005
Jackpot:$112,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,996,971$697,067$119,619$1,180,285
2$2,076,850$726,622$124,403$1,225,824
3$2,159,924$757,360$129,379$1,273,185
4$2,246,321$789,326$134,555$1,322,440
5$2,336,174$822,572$139,937$1,373,665
6$2,429,621$857,147$145,534$1,426,939
7$2,526,806$893,106$151,356$1,482,344
8$2,627,878$930,503$157,410$1,539,965
9$2,732,993$969,395$163,706$1,599,891
10$2,842,313$1,009,843$170,255$1,662,215
11$2,956,005$1,051,910$177,065$1,727,031
12$3,074,245$1,095,658$184,147$1,794,439
13$3,197,215$1,141,157$191,513$1,864,545
14$3,325,104$1,188,476$199,174$1,937,454
15$3,458,108$1,237,688$207,141$2,013,280
16$3,596,432$1,288,868$215,426$2,092,138
17$3,740,289$1,342,095$224,043$2,174,151
18$3,889,901$1,397,451$233,005$2,259,445
19$4,045,497$1,455,022$242,325$2,348,150
20$4,207,317$1,514,895$252,018$2,440,404
21$4,375,610$1,577,163$262,099$2,536,347
22$4,550,634$1,641,922$272,583$2,636,129
23$4,732,659$1,709,272$283,486$2,739,901
24$4,921,966$1,779,315$294,826$2,847,825
25$5,118,844$1,852,160$306,619$2,960,065
26$5,323,598$1,927,919$318,884$3,076,796
27$5,536,542$2,006,708$331,639$3,198,195
28$5,758,004$2,088,649$344,904$3,324,450
29$5,988,324$2,173,868$358,701$3,455,756
30$6,227,857$2,262,495$373,049$3,592,313
Total$112,000,000$40,185,632$6,708,801$65,105,567

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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.