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Rhode Island Powerball Jackpot Annuity Payout Schedule for Oct 1, 2022

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The tax information provided here is based on 2022 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 $325,400,000 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 prize money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Sat, Oct 1, 2022
Jackpot:$325,400,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,897,737$1,775,118$293,374$2,829,245
2$5,142,624$1,865,726$308,043$2,968,855
3$5,399,755$1,960,864$323,445$3,115,445
4$5,669,743$2,060,760$339,618$3,269,365
5$5,953,230$2,165,650$356,598$3,430,981
6$6,250,891$2,275,785$374,428$3,600,678
7$6,563,436$2,391,426$393,150$3,778,860
8$6,891,608$2,512,850$412,807$3,965,951
9$7,236,188$2,640,345$433,448$4,162,396
10$7,597,998$2,774,214$455,120$4,368,663
11$7,977,898$2,914,777$477,876$4,585,244
12$8,376,792$3,062,368$501,770$4,812,654
13$8,795,632$3,217,339$526,858$5,051,435
14$9,235,414$3,380,058$553,201$5,302,154
15$9,697,184$3,550,913$580,861$5,565,410
16$10,182,044$3,730,311$609,904$5,841,828
17$10,691,146$3,918,679$640,400$6,132,067
18$11,225,703$4,116,465$672,420$6,436,818
19$11,786,988$4,324,141$706,041$6,756,807
20$12,376,337$4,542,200$741,343$7,092,795
21$12,995,154$4,771,162$778,410$7,445,582
22$13,644,912$5,011,572$817,330$7,816,009
23$14,327,158$5,264,003$858,197$8,204,958
24$15,043,515$5,529,056$901,107$8,613,353
25$15,795,691$5,807,361$946,162$9,042,168
26$16,585,476$6,099,581$993,470$9,492,425
27$17,414,750$6,406,412$1,043,144$9,965,194
28$18,285,487$6,728,585$1,095,301$10,461,601
29$19,199,761$7,066,867$1,150,066$10,982,829
30$20,159,750$7,422,062$1,207,569$11,530,118
Total$325,400,001$119,286,650$19,491,461$186,621,888

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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.