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Rhode Island Powerball Jackpot Annuity Payout Schedule for Aug 31, 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 $76,500,000 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, Aug 31, 2011
Jackpot:$76,500,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,364,003$462,869$81,704$819,430
2$1,418,563$483,056$84,972$850,535
3$1,475,305$504,051$88,371$882,884
4$1,534,317$525,885$91,906$916,527
5$1,595,690$548,593$95,582$951,515
6$1,659,518$572,209$99,405$987,903
7$1,725,898$596,770$103,381$1,025,747
8$1,794,934$622,313$107,517$1,065,104
9$1,866,732$648,878$111,817$1,106,036
10$1,941,401$676,506$116,290$1,148,605
11$2,019,057$705,239$120,942$1,192,877
12$2,099,819$735,121$125,779$1,238,919
13$2,183,812$766,198$130,810$1,286,804
14$2,271,165$798,519$136,043$1,336,603
15$2,362,011$832,132$141,484$1,388,395
16$2,456,492$867,090$147,144$1,442,258
17$2,554,751$903,446$153,030$1,498,276
18$2,656,941$941,256$159,151$1,556,534
19$2,763,219$980,579$165,517$1,617,123
20$2,873,748$1,021,474$172,137$1,680,136
21$2,988,698$1,064,006$179,023$1,745,669
22$3,108,246$1,108,239$186,184$1,813,823
23$3,232,575$1,154,241$193,631$1,884,703
24$3,361,878$1,202,083$201,377$1,958,419
25$3,496,354$1,251,839$209,432$2,035,083
26$3,636,208$1,303,585$217,809$2,114,814
27$3,781,656$1,357,400$226,521$2,197,734
28$3,932,922$1,413,369$235,582$2,283,971
29$4,090,239$1,471,576$245,005$2,373,658
30$4,253,849$1,532,112$254,806$2,466,931
Total$76,500,000$27,050,634$4,582,352$44,867,016

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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.