USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Nov 23, 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 $32,200,000 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:Wed, Nov 23, 2022
Jackpot:$32,200,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$484,656$143,383$29,031$312,243
2$508,889$151,864$30,482$326,542
3$534,333$160,770$32,007$341,557
4$561,050$170,544$33,607$356,900
5$589,103$180,923$35,287$372,892
6$618,558$191,821$37,052$389,685
7$649,486$203,265$38,904$407,317
8$681,960$215,280$40,849$425,830
9$716,058$227,896$42,892$445,270
10$751,861$241,144$45,036$465,681
11$789,454$255,053$47,288$487,113
12$828,927$269,658$49,653$509,616
13$870,373$284,993$52,135$533,245
14$913,892$301,095$54,742$558,055
15$959,586$318,002$57,479$584,105
16$1,007,565$335,754$60,353$611,458
17$1,057,944$354,394$63,371$640,179
18$1,110,841$373,966$66,539$670,335
19$1,166,383$394,517$69,866$702,000
20$1,224,702$416,095$73,360$735,248
21$1,285,937$438,752$77,028$770,158
22$1,350,234$462,542$80,879$806,813
23$1,417,746$487,521$84,923$845,302
24$1,488,633$513,749$89,169$885,715
25$1,563,065$541,289$93,628$928,148
26$1,641,218$570,206$98,309$972,703
27$1,723,279$600,568$103,224$1,019,486
28$1,809,443$632,449$108,386$1,068,608
29$1,899,915$665,924$113,805$1,120,186
30$1,994,911$701,072$119,495$1,174,344
Total$32,200,000$10,804,489$1,928,779$19,466,734

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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.