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Rhode Island Powerball Jackpot Annuity Payout Schedule for Sep 24, 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 $274,800,000 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:Sat, Sep 24, 2022
Jackpot:$274,800,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$4,136,134$1,488,557$247,754$2,399,822
2$4,342,941$1,565,076$260,142$2,517,723
3$4,560,088$1,645,420$273,149$2,641,518
4$4,788,093$1,729,782$286,807$2,771,504
5$5,027,497$1,818,362$301,147$2,907,988
6$5,278,872$1,911,370$316,204$3,051,297
7$5,542,816$2,009,030$332,015$3,201,772
8$5,819,956$2,111,572$348,615$3,359,769
9$6,110,954$2,219,241$366,046$3,525,667
10$6,416,502$2,332,293$384,348$3,699,860
11$6,737,327$2,450,999$403,566$3,882,762
12$7,074,193$2,575,639$423,744$4,074,810
13$7,427,903$2,706,512$444,931$4,276,460
14$7,799,298$2,843,928$467,178$4,488,192
15$8,189,263$2,988,215$490,537$4,710,511
16$8,598,726$3,139,717$515,064$4,943,946
17$9,028,663$3,298,793$540,817$5,189,053
18$9,480,096$3,465,823$567,858$5,446,415
19$9,954,100$3,641,205$596,251$5,716,645
20$10,451,806$3,825,356$626,063$6,000,387
21$10,974,396$4,018,714$657,366$6,298,315
22$11,523,116$4,221,741$690,235$6,611,140
23$12,099,271$4,434,918$724,746$6,939,607
24$12,704,235$4,658,755$760,984$7,284,497
25$13,339,447$4,893,783$799,033$7,646,631
26$14,006,419$5,140,563$838,985$8,026,872
27$14,706,740$5,399,682$880,934$8,426,125
28$15,442,077$5,671,756$924,980$8,845,340
29$16,214,181$5,957,435$971,229$9,285,517
30$17,024,890$6,257,397$1,019,791$9,747,702
Total$274,800,001$100,421,634$16,460,519$157,917,847

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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.