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Rhode Island Powerball Jackpot Annuity Payout Schedule for Apr 17, 2024

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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 $80,700,000 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:Wed, Apr 17, 2024
Jackpot:$80,700,000
Federal Tax:37% marginal rate
State Tax: 5.99%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$1,214,651$407,609$72,758$734,285
2$1,275,383$430,080$76,395$768,908
3$1,339,153$453,674$80,215$805,263
4$1,406,110$478,449$84,226$843,436
5$1,476,416$504,462$88,437$883,517
6$1,550,236$531,775$92,859$925,602
7$1,627,748$560,455$97,502$969,792
8$1,709,136$590,568$102,377$1,016,191
9$1,794,592$622,187$107,496$1,064,909
10$1,884,322$655,387$112,871$1,116,064
11$1,978,538$690,247$118,514$1,169,777
12$2,077,465$726,850$124,440$1,226,175
13$2,181,338$765,283$130,662$1,285,393
14$2,290,405$805,638$137,195$1,347,572
15$2,404,926$848,010$144,055$1,412,860
16$2,525,172$892,501$151,258$1,481,413
17$2,651,430$939,217$158,821$1,553,393
18$2,784,002$988,268$166,762$1,628,972
19$2,923,202$1,039,772$175,100$1,708,330
20$3,069,362$1,093,852$183,855$1,791,656
21$3,222,830$1,150,635$193,048$1,879,148
22$3,383,972$1,210,257$202,700$1,971,015
23$3,553,170$1,272,861$212,835$2,067,475
24$3,730,829$1,338,594$223,477$2,168,758
25$3,917,370$1,407,615$234,650$2,275,105
26$4,113,239$1,480,086$246,383$2,386,770
27$4,318,901$1,556,181$258,702$2,504,018
28$4,534,846$1,636,081$271,637$2,627,128
29$4,761,588$1,719,975$285,219$2,756,394
30$4,999,667$1,808,065$299,480$2,892,123
Total$80,700,000$28,604,634$4,833,929$47,261,442

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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.