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Rhode Island Powerball Jackpot Annuity Payout Schedule for Dec 5, 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 $89,200,000 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 money, as well as deductions claimed.

State:

Rhode Island

Drawing Date:Mon, Dec 5, 2022
Jackpot:$89,200,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,342,588$454,945$80,421$807,222
2$1,409,717$479,783$84,442$845,492
3$1,480,203$505,863$88,664$885,676
4$1,554,213$533,247$93,097$927,869
5$1,631,924$562,000$97,752$972,172
6$1,713,520$592,190$102,640$1,018,690
7$1,799,196$623,890$107,772$1,067,534
8$1,889,156$657,176$113,160$1,118,820
9$1,983,614$692,125$118,818$1,172,671
10$2,082,795$728,822$124,759$1,229,213
11$2,186,934$767,353$130,997$1,288,584
12$2,296,281$807,812$137,547$1,350,922
13$2,411,095$850,293$144,425$1,416,378
14$2,531,650$894,898$151,646$1,485,106
15$2,658,232$941,734$159,228$1,557,271
16$2,791,144$990,911$167,190$1,633,043
17$2,930,701$1,042,547$175,549$1,712,605
18$3,077,236$1,096,765$184,326$1,796,145
19$3,231,098$1,153,694$193,543$1,883,861
20$3,392,653$1,213,469$203,220$1,975,964
21$3,562,286$1,276,233$213,381$2,072,671
22$3,740,400$1,342,136$224,050$2,174,214
23$3,927,420$1,411,333$235,252$2,280,834
24$4,123,791$1,483,990$247,015$2,392,785
25$4,329,980$1,560,281$259,366$2,510,334
26$4,546,480$1,640,385$272,334$2,633,760
27$4,773,804$1,724,495$285,951$2,763,358
28$5,012,494$1,812,810$300,248$2,899,435
29$5,263,118$1,905,542$315,261$3,042,316
30$5,526,274$2,002,909$331,024$3,192,341
Total$89,200,000$31,749,631$5,343,078$52,107,286

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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.