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Rhode Island Powerball Jackpot Annuity Payout Schedule for Jun 20, 2015

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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 $80,000,000 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 20, 2015
Jackpot:$80,000,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,426,408$485,959$85,442$855,007
2$1,483,464$507,070$88,860$887,535
3$1,542,803$529,025$92,414$921,364
4$1,604,515$551,858$96,110$956,546
5$1,668,696$575,605$99,955$993,136
6$1,735,443$600,302$103,953$1,031,189
7$1,804,861$625,986$108,111$1,070,764
8$1,877,056$652,698$112,436$1,111,922
9$1,952,138$680,479$116,933$1,154,726
10$2,030,223$709,370$121,610$1,199,243
11$2,111,432$739,418$126,475$1,245,540
12$2,195,889$770,667$131,534$1,293,689
13$2,283,725$803,166$136,795$1,343,764
14$2,375,074$836,965$142,267$1,395,842
15$2,470,077$872,116$147,958$1,450,003
16$2,568,880$908,673$153,876$1,506,331
17$2,671,635$946,693$160,031$1,564,912
18$2,778,501$986,233$166,432$1,625,836
19$2,889,641$1,027,355$173,089$1,689,196
20$3,005,226$1,070,122$180,013$1,755,092
21$3,125,435$1,114,599$187,214$1,823,623
22$3,250,453$1,160,855$194,702$1,894,895
23$3,380,471$1,208,962$202,490$1,969,019
24$3,515,690$1,258,993$210,590$2,046,107
25$3,656,317$1,311,025$219,013$2,126,279
26$3,802,570$1,365,139$227,774$2,209,657
27$3,954,673$1,421,417$236,885$2,296,371
28$4,112,860$1,479,946$246,360$2,386,554
29$4,277,374$1,540,816$256,215$2,480,343
30$4,448,469$1,604,121$266,463$2,577,885
Total$80,000,000$28,345,633$4,792,000$46,862,370

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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.