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Rhode Island Powerball Jackpot Annuity Payout Schedule for Dec 18, 2023

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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 $544,400,000 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 18, 2023
Jackpot:$544,400,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$8,194,001$2,989,968$490,821$4,713,212
2$8,603,701$3,141,557$515,362$4,946,782
3$9,033,886$3,300,726$541,130$5,192,031
4$9,485,581$3,467,853$568,186$5,449,542
5$9,959,860$3,643,336$596,596$5,719,928
6$10,457,853$3,827,593$626,425$6,003,834
7$10,980,746$4,021,064$657,747$6,301,935
8$11,529,783$4,224,207$690,634$6,614,941
9$12,106,272$4,437,508$725,166$6,943,598
10$12,711,585$4,661,474$761,424$7,288,687
11$13,347,165$4,896,639$799,495$7,651,031
12$14,014,523$5,143,561$839,470$8,031,492
13$14,715,249$5,402,830$881,443$8,430,976
14$15,451,012$5,675,062$925,516$8,850,434
15$16,223,562$5,960,906$971,791$9,290,865
16$17,034,740$6,261,042$1,020,381$9,753,318
17$17,886,477$6,576,184$1,071,400$10,238,893
18$18,780,801$6,907,084$1,124,970$10,748,747
19$19,719,841$7,254,529$1,181,218$11,284,094
20$20,705,833$7,619,346$1,240,279$11,846,208
21$21,741,125$8,002,404$1,302,293$12,436,427
22$22,828,181$8,404,615$1,367,408$13,056,158
23$23,969,590$8,826,936$1,435,778$13,706,876
24$25,168,069$9,270,373$1,507,567$14,390,129
25$26,426,473$9,735,983$1,582,946$15,107,544
26$27,747,797$10,224,873$1,662,093$15,860,831
27$29,135,187$10,738,207$1,745,198$16,651,782
28$30,591,946$11,277,208$1,832,458$17,482,280
29$32,121,543$11,843,159$1,924,080$18,354,304
30$33,727,620$12,437,407$2,020,284$19,269,929
Total$544,400,001$200,173,634$32,609,559$311,616,808

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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.