USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Nov 7, 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 $2,040,100,000 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 7, 2022
Jackpot:$2,040,100,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$30,706,433$11,324,335$1,839,315$17,542,782
2$32,241,755$11,892,404$1,931,281$18,418,069
3$33,853,842$12,488,876$2,027,845$19,337,120
4$35,546,535$13,115,173$2,129,237$20,302,125
5$37,323,860$13,772,783$2,235,699$21,315,378
6$39,190,054$14,463,275$2,347,484$22,379,295
7$41,149,558$15,188,291$2,464,858$23,496,408
8$43,207,035$15,949,558$2,588,101$24,669,376
9$45,367,387$16,748,888$2,717,506$25,900,992
10$47,635,756$17,588,185$2,853,382$27,194,189
11$50,017,544$18,469,446$2,996,051$28,552,047
12$52,518,421$19,394,771$3,145,853$29,977,797
13$55,144,342$20,366,361$3,303,146$31,474,834
14$57,901,559$21,386,532$3,468,303$33,046,724
15$60,796,637$22,457,711$3,641,719$34,697,208
16$63,836,469$23,582,449$3,823,805$36,430,216
17$67,028,291$24,763,423$4,014,995$38,249,874
18$70,379,706$26,003,446$4,215,744$40,160,516
19$73,898,691$27,305,471$4,426,532$42,166,689
20$77,593,627$28,672,597$4,647,858$44,273,171
21$81,473,307$30,108,079$4,880,251$46,484,977
22$85,546,973$31,615,335$5,124,264$48,807,374
23$89,824,322$33,197,954$5,380,477$51,245,891
24$94,315,537$34,859,704$5,649,501$53,806,332
25$99,031,314$36,604,541$5,931,976$56,494,797
26$103,982,881$38,436,621$6,228,575$59,317,685
27$109,182,025$40,360,304$6,540,003$62,281,717
28$114,641,124$42,380,171$6,867,003$65,393,950
29$120,373,181$44,501,032$7,210,354$68,661,796
30$126,391,841$46,727,936$7,570,871$72,093,034
Total$2,040,100,004$753,725,652$122,201,989$1,164,172,363

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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.