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Rhode Island Powerball Jackpot Annuity Payout Schedule for Feb 24, 2024

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The tax information provided here is based on 2025 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 $375,900,000 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, Feb 24, 2024
Jackpot:$375,900,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,657,834$2,050,419$338,904$3,268,511
2$5,940,726$2,155,089$355,850$3,429,788
3$6,237,762$2,264,992$373,642$3,599,128
4$6,549,651$2,380,391$392,324$3,776,936
5$6,877,133$2,501,559$411,940$3,963,633
6$7,220,990$2,628,786$432,537$4,159,666
7$7,582,039$2,762,375$454,164$4,365,500
8$7,961,141$2,902,643$476,872$4,581,626
9$8,359,198$3,049,924$500,716$4,808,559
10$8,777,158$3,204,569$525,752$5,046,838
11$9,216,016$3,366,946$552,039$5,297,031
12$9,676,817$3,537,443$579,641$5,559,733
13$10,160,658$3,716,464$608,623$5,835,571
14$10,668,691$3,904,436$639,055$6,125,200
15$11,202,125$4,101,807$671,007$6,429,311
16$11,762,232$4,309,046$704,558$6,748,628
17$12,350,343$4,526,647$739,786$7,083,910
18$12,967,860$4,755,129$776,775$7,435,957
19$13,616,253$4,995,034$815,614$7,805,606
20$14,297,066$5,246,935$856,394$8,193,737
21$15,011,919$5,511,430$899,214$8,601,275
22$15,762,515$5,789,151$944,175$9,029,190
23$16,550,641$6,080,757$991,383$9,478,500
24$17,378,173$6,386,944$1,040,953$9,950,276
25$18,247,081$6,708,440$1,093,000$10,445,641
26$19,159,436$7,046,011$1,147,650$10,965,774
27$20,117,408$7,400,461$1,205,033$11,511,914
28$21,123,278$7,772,633$1,265,284$12,085,360
29$22,179,442$8,163,414$1,328,549$12,687,479
30$23,288,414$8,573,733$1,394,976$13,319,704
Total$375,900,001$137,793,608$22,516,410$215,589,982

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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.