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Rhode Island Powerball Jackpot Annuity Payout Schedule for Nov 22, 2008

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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 $57,600,000 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, Nov 22, 2008
Jackpot:$57,600,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,027,014$337,015$61,518$628,480
2$1,068,094$352,215$63,979$651,900
3$1,110,818$368,023$66,538$676,257
4$1,155,251$384,463$69,200$701,588
5$1,201,461$401,561$71,968$727,933
6$1,249,519$419,342$74,846$755,331
7$1,299,500$437,835$77,840$783,825
8$1,351,480$457,068$80,954$813,458
9$1,405,539$477,070$84,192$844,278
10$1,461,761$497,872$87,559$876,330
11$1,520,231$519,506$91,062$909,664
12$1,581,040$542,005$94,704$944,331
13$1,644,282$565,405$98,492$980,385
14$1,710,053$589,740$102,432$1,017,881
15$1,778,455$615,049$106,529$1,056,877
16$1,849,594$641,370$110,791$1,097,433
17$1,923,577$668,744$115,222$1,139,611
18$2,000,521$697,213$119,831$1,183,476
19$2,080,541$726,821$124,624$1,229,096
20$2,163,763$757,613$129,609$1,276,541
21$2,250,314$789,636$134,794$1,325,883
22$2,340,326$822,941$140,186$1,377,200
23$2,433,939$857,578$145,793$1,430,568
24$2,531,297$893,600$151,625$1,486,072
25$2,632,549$931,063$157,690$1,543,796
26$2,737,850$970,025$163,997$1,603,828
27$2,847,364$1,010,545$170,557$1,666,262
28$2,961,259$1,052,686$177,379$1,731,194
29$3,079,709$1,096,513$184,475$1,798,722
30$3,202,898$1,142,092$191,854$1,868,952
Total$57,600,000$20,022,609$3,450,240$34,127,152

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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.