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Rhode Island Powerball Jackpot Annuity Payout Schedule for Jan 11, 2012

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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 $54,400,000 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, Jan 11, 2012
Jackpot:$54,400,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$969,957$317,072$58,100$594,785
2$1,008,756$331,427$60,424$616,904
3$1,049,106$346,357$62,841$639,908
4$1,091,070$361,884$65,355$663,831
5$1,134,713$378,032$67,969$688,712
6$1,180,101$394,825$70,688$714,588
7$1,227,306$412,291$73,516$741,499
8$1,276,398$430,455$76,456$769,487
9$1,327,454$449,346$79,514$798,594
10$1,380,552$468,992$82,695$828,865
11$1,435,774$489,424$86,003$860,347
12$1,493,205$510,674$89,443$893,088
13$1,552,933$532,773$93,021$927,139
14$1,615,050$555,756$96,742$962,552
15$1,679,652$579,659$100,611$999,382
16$1,746,838$604,518$104,636$1,037,685
17$1,816,712$630,371$108,821$1,077,520
18$1,889,380$657,259$113,174$1,118,948
19$1,964,956$685,221$117,701$1,162,033
20$2,043,554$714,303$122,409$1,206,842
21$2,125,296$744,547$127,305$1,253,444
22$2,210,308$776,002$132,397$1,301,909
23$2,298,720$808,714$137,693$1,352,313
24$2,390,669$842,735$143,201$1,404,733
25$2,486,296$878,117$148,929$1,459,249
26$2,585,748$914,914$154,886$1,515,947
27$2,689,178$953,183$161,082$1,574,912
28$2,796,745$992,983$167,525$1,636,236
29$2,908,614$1,034,375$174,226$1,700,013
30$3,024,959$1,077,423$181,195$1,766,341
Total$54,400,000$18,873,632$3,258,558$32,267,806

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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.