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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 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 $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$459,713$80,421$802,454
2$1,409,717$484,550$84,442$840,725
3$1,480,203$510,630$88,664$880,909
4$1,554,213$538,014$93,097$923,102
5$1,631,924$566,767$97,752$967,405
6$1,713,520$596,958$102,640$1,013,923
7$1,799,196$628,658$107,772$1,062,767
8$1,889,156$661,943$113,160$1,114,053
9$1,983,614$696,892$118,818$1,167,903
10$2,082,795$733,589$124,759$1,224,446
11$2,186,934$772,121$130,997$1,283,816
12$2,296,281$812,579$137,547$1,346,155
13$2,411,095$855,060$144,425$1,411,610
14$2,531,650$899,665$151,646$1,480,339
15$2,658,232$946,501$159,228$1,552,503
16$2,791,144$995,678$167,190$1,628,276
17$2,930,701$1,047,314$175,549$1,707,838
18$3,077,236$1,101,532$184,326$1,791,377
19$3,231,098$1,158,461$193,543$1,879,094
20$3,392,653$1,218,237$203,220$1,971,197
21$3,562,286$1,281,001$213,381$2,067,904
22$3,740,400$1,346,903$224,050$2,169,447
23$3,927,420$1,416,100$235,252$2,276,067
24$4,123,791$1,488,758$247,015$2,388,018
25$4,329,980$1,565,048$259,366$2,505,567
26$4,546,480$1,645,152$272,334$2,628,993
27$4,773,804$1,729,262$285,951$2,758,590
28$5,012,494$1,817,578$300,248$2,894,668
29$5,263,118$1,910,309$315,261$3,037,549
30$5,526,274$2,007,676$331,024$3,187,574
Total$89,200,000$31,892,649$5,343,078$51,964,269

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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.