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

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The tax information provided here is based on 2025 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$695,900$119,619$1,181,453
2$2,076,850$725,455$124,403$1,226,992
3$2,159,924$756,192$129,379$1,274,352
4$2,246,321$788,159$134,555$1,323,607
5$2,336,174$821,405$139,937$1,374,832
6$2,429,621$855,980$145,534$1,428,107
7$2,526,806$891,938$151,356$1,483,512
8$2,627,878$929,335$157,410$1,541,133
9$2,732,993$968,228$163,706$1,601,059
10$2,842,313$1,008,676$170,255$1,663,382
11$2,956,005$1,050,742$177,065$1,728,198
12$3,074,245$1,094,491$184,147$1,795,607
13$3,197,215$1,139,990$191,513$1,865,712
14$3,325,104$1,187,309$199,174$1,938,621
15$3,458,108$1,236,520$207,141$2,014,447
16$3,596,432$1,287,700$215,426$2,093,306
17$3,740,289$1,340,927$224,043$2,175,319
18$3,889,901$1,396,284$233,005$2,260,612
19$4,045,497$1,453,854$242,325$2,349,318
20$4,207,317$1,513,728$252,018$2,441,571
21$4,375,610$1,575,996$262,099$2,537,515
22$4,550,634$1,640,755$272,583$2,637,296
23$4,732,659$1,708,104$283,486$2,741,069
24$4,921,966$1,778,148$294,826$2,848,992
25$5,118,844$1,850,993$306,619$2,961,233
26$5,323,598$1,926,752$318,884$3,077,963
27$5,536,542$2,005,541$331,639$3,199,362
28$5,758,004$2,087,482$344,904$3,325,618
29$5,988,324$2,172,700$358,701$3,456,923
30$6,227,857$2,261,327$373,049$3,593,481
Total$112,000,000$40,150,611$6,708,801$65,140,592

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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.