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Rhode Island Powerball Jackpot Annuity Payout Schedule for Jul 11, 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 $78,300,000 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, Jul 11, 2020
Jackpot:$78,300,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,178,527$400,127$70,594$707,806
2$1,237,454$421,930$74,123$741,400
3$1,299,326$444,823$77,830$776,674
4$1,364,293$468,861$81,721$813,711
5$1,432,507$494,100$85,807$852,600
6$1,504,133$520,601$90,098$893,434
7$1,579,339$548,428$94,602$936,309
8$1,658,306$577,646$99,333$981,328
9$1,741,222$608,324$104,299$1,028,598
10$1,828,283$640,537$109,514$1,078,232
11$1,919,697$674,360$114,990$1,130,347
12$2,015,682$709,874$120,739$1,185,068
13$2,116,466$747,165$126,776$1,242,525
14$2,222,289$786,319$133,115$1,302,855
15$2,333,404$827,432$139,771$1,366,201
16$2,450,074$870,600$146,759$1,432,715
17$2,572,577$915,926$154,097$1,502,554
18$2,701,206$963,519$161,802$1,575,885
19$2,836,267$1,013,491$169,892$1,652,883
20$2,978,080$1,065,962$178,387$1,733,731
21$3,126,984$1,121,056$187,306$1,818,621
22$3,283,333$1,178,906$196,672$1,907,756
23$3,447,500$1,239,647$206,505$2,001,347
24$3,619,875$1,303,426$216,830$2,099,618
25$3,800,869$1,370,394$227,672$2,202,803
26$3,990,912$1,440,710$239,056$2,311,147
27$4,190,458$1,514,542$251,008$2,424,908
28$4,399,980$1,592,065$263,559$2,544,357
29$4,619,979$1,673,465$276,737$2,669,778
30$4,850,978$1,758,934$290,574$2,801,471
Total$78,300,000$27,893,170$4,690,168$45,716,662

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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.