USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Nov 7, 2020

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The tax information provided here is based on 2021 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 $146,600,000 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 prize money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Sat, Nov 7, 2020
Jackpot:$146,600,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,206,540$780,492$132,172$1,293,876
2$2,316,867$821,313$138,780$1,356,774
3$2,432,711$864,175$145,719$1,422,816
4$2,554,346$909,180$153,005$1,492,161
5$2,682,064$956,436$160,656$1,564,972
6$2,816,167$1,006,054$168,688$1,641,424
7$2,956,975$1,058,153$177,123$1,721,699
8$3,104,824$1,112,857$185,979$1,805,988
9$3,260,065$1,170,296$195,278$1,894,491
10$3,423,068$1,230,608$205,042$1,987,419
11$3,594,222$1,293,934$215,294$2,084,994
12$3,773,933$1,360,427$226,059$2,187,447
13$3,962,630$1,430,245$237,362$2,295,023
14$4,160,761$1,503,554$249,230$2,407,978
15$4,368,799$1,580,528$261,691$2,526,580
16$4,587,239$1,661,351$274,776$2,651,113
17$4,816,601$1,746,215$288,514$2,781,872
18$5,057,431$1,835,322$302,940$2,919,169
19$5,310,303$1,928,884$318,087$3,063,331
20$5,575,818$2,027,125$333,991$3,214,701
21$5,854,609$2,130,277$350,691$3,373,640
22$6,147,339$2,238,588$368,226$3,540,526
23$6,454,706$2,352,313$386,637$3,715,756
24$6,777,441$2,471,725$405,969$3,899,747
25$7,116,313$2,597,108$426,267$4,092,938
26$7,472,129$2,728,760$447,581$4,295,788
27$7,845,735$2,866,994$469,960$4,508,782
28$8,238,022$3,012,140$493,458$4,732,424
29$8,649,923$3,164,544$518,130$4,967,249
30$9,082,419$3,324,567$544,037$5,213,815
Total$146,600,000$53,164,165$8,781,342$84,654,493

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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.