USA Mega

Rhode Island Powerball Jackpot Annuity Payout Schedule for Feb 5, 2024

Media: You may freely use any information on this page, but you must credit usamega.com.

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 $214,800,000 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:Mon, Feb 5, 2024
Jackpot:$214,800,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$3,233,048$1,154,416$193,660$1,884,973
2$3,394,701$1,214,227$203,343$1,977,131
3$3,564,436$1,277,029$213,510$2,073,897
4$3,742,658$1,342,971$224,185$2,175,501
5$3,929,790$1,412,210$235,394$2,282,186
6$4,126,280$1,484,911$247,164$2,394,204
7$4,332,594$1,561,248$259,522$2,511,824
8$4,549,224$1,641,400$272,498$2,635,325
9$4,776,685$1,725,561$286,123$2,765,000
10$5,015,519$1,813,930$300,430$2,901,160
11$5,266,295$1,906,717$315,451$3,044,127
12$5,529,610$2,004,143$331,224$3,194,243
13$5,806,090$2,106,441$347,785$3,351,864
14$6,096,395$2,213,854$365,174$3,517,367
15$6,401,214$2,326,637$383,433$3,691,145
16$6,721,275$2,445,060$402,604$3,873,611
17$7,057,339$2,569,403$422,735$4,065,201
18$7,410,206$2,699,964$443,871$4,266,371
19$7,780,716$2,837,053$466,065$4,477,598
20$8,169,752$2,980,996$489,368$4,699,388
21$8,578,239$3,132,136$513,837$4,932,267
22$9,007,151$3,290,834$539,528$5,176,789
23$9,457,509$3,457,466$566,505$5,433,538
24$9,930,384$3,632,430$594,830$5,703,124
25$10,426,904$3,816,142$624,572$5,986,190
26$10,948,249$4,009,040$655,800$6,283,409
27$11,495,661$4,211,582$688,590$6,595,489
28$12,070,444$4,424,252$723,020$6,923,173
29$12,673,967$4,647,555$759,171$7,267,241
30$13,307,665$4,882,024$797,129$7,628,512
Total$214,800,000$78,221,632$12,866,521$123,711,848

◄ Back to Jackpot Analysis

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.