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Rhode Island Powerball Jackpot Annuity Payout Schedule for Nov 14, 2022

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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 $62,900,000 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:Mon, Nov 14, 2022
Jackpot:$62,900,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$946,735$308,480$56,709$581,546
2$994,072$325,994$59,545$608,533
3$1,043,776$344,385$62,522$636,869
4$1,095,964$363,695$65,648$666,622
5$1,150,763$383,970$68,931$697,862
6$1,208,301$405,259$72,377$730,665
7$1,268,716$427,613$75,996$765,107
8$1,332,152$451,084$79,796$801,272
9$1,398,759$475,729$83,786$839,245
10$1,468,697$501,606$87,975$879,116
11$1,542,132$528,777$92,374$920,982
12$1,619,239$557,306$96,992$964,940
13$1,700,201$587,262$101,842$1,011,097
14$1,785,211$618,716$106,934$1,059,561
15$1,874,471$651,742$112,281$1,110,448
16$1,968,195$686,420$117,895$1,163,880
17$2,066,604$722,831$123,790$1,219,983
18$2,169,935$761,064$129,979$1,278,892
19$2,278,431$801,207$136,478$1,340,746
20$2,392,353$843,358$143,302$1,405,693
21$2,511,971$887,617$150,467$1,473,887
22$2,637,569$934,088$157,990$1,545,490
23$2,769,447$982,883$165,890$1,620,674
24$2,907,920$1,034,118$174,184$1,699,617
25$3,053,316$1,087,915$182,894$1,782,508
26$3,205,982$1,144,401$192,038$1,869,542
27$3,366,281$1,203,712$201,640$1,960,929
28$3,534,595$1,265,988$211,722$2,056,885
29$3,711,324$1,331,378$222,308$2,157,638
30$3,896,891$1,400,037$233,424$2,263,430
Total$62,900,000$22,018,635$3,767,709$37,113,659

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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.