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Rhode Island Powerball Jackpot Annuity Payout Schedule for Oct 12, 2011

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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 $87,200,000 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, Oct 12, 2011
Jackpot:$87,200,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,554,785$533,458$93,132$928,195
2$1,616,976$556,469$96,857$963,650
3$1,681,655$580,400$100,731$1,000,524
4$1,748,921$605,289$104,760$1,038,872
5$1,818,878$631,173$108,951$1,078,755
6$1,891,633$658,092$113,309$1,120,232
7$1,967,299$686,088$117,841$1,163,369
8$2,045,991$715,204$122,555$1,208,231
9$2,127,830$745,485$127,457$1,254,888
10$2,212,943$776,977$132,555$1,303,411
11$2,301,461$809,728$137,858$1,353,875
12$2,393,520$843,790$143,372$1,406,358
13$2,489,260$879,214$149,107$1,460,940
14$2,588,831$916,055$155,071$1,517,705
15$2,692,384$954,370$161,274$1,576,740
16$2,800,079$994,217$167,725$1,638,137
17$2,912,082$1,035,658$174,434$1,701,990
18$3,028,566$1,078,757$181,411$1,768,398
19$3,149,708$1,123,580$188,668$1,837,461
20$3,275,697$1,170,196$196,214$1,909,287
21$3,406,725$1,218,676$204,063$1,983,986
22$3,542,994$1,269,095$212,225$2,061,673
23$3,684,713$1,321,532$220,714$2,142,467
24$3,832,102$1,376,065$229,543$2,226,494
25$3,985,386$1,432,781$238,725$2,313,881
26$4,144,801$1,491,764$248,274$2,404,764
27$4,310,593$1,553,107$258,205$2,499,282
28$4,483,017$1,616,904$268,533$2,597,580
29$4,662,338$1,683,253$279,274$2,699,811
30$4,848,831$1,752,255$290,445$2,806,131
Total$87,200,000$31,009,632$5,223,283$50,967,087

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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.