USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Jun 4, 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 $20,000,000 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, Jun 4, 2011
Jackpot:$20,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$356,602$95,185$21,360$240,056
2$370,866$100,178$22,215$248,473
3$385,701$105,370$23,103$257,227
4$401,129$110,770$24,028$266,331
5$417,174$116,386$24,989$275,800
6$433,861$122,226$25,988$285,647
7$451,215$128,300$27,028$295,887
8$469,264$134,617$28,109$306,538
9$488,034$141,187$29,233$317,614
10$507,556$148,019$30,403$329,134
11$527,858$155,125$31,619$341,114
12$548,972$162,515$32,883$353,574
13$570,931$170,201$34,199$366,532
14$593,769$178,194$35,567$380,008
15$617,519$186,670$36,989$393,860
16$642,220$195,809$38,469$407,942
17$667,909$205,314$40,008$422,587
18$694,625$215,199$41,608$437,818
19$722,410$225,480$43,272$453,658
20$751,307$236,171$45,003$470,132
21$781,359$247,291$46,803$487,265
22$812,613$258,855$48,676$505,083
23$845,118$270,881$50,623$523,614
24$878,922$283,389$52,647$542,886
25$914,079$296,397$54,753$562,929
26$950,643$309,925$56,943$583,774
27$988,668$323,995$59,221$605,452
28$1,028,215$338,627$61,590$627,998
29$1,069,344$353,845$64,054$651,445
30$1,112,117$369,671$66,616$675,830
Total$20,000,000$6,185,792$1,197,999$12,616,208

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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.