Millions of people woke up Wednesday to bitter news, but one Florida resident will have his life changed forever by becoming the sole Mega Millions winner.
The lottery raffled $1.580 million on Tuesday, the largest accumulated in its history. The new millionaire has the option to choose the prize in a single cash payment of $783.3 million, or an annual payment for 29 years.
The winning numbers were 13, 19, 20, 32, 33 and the Mega Ball 14.
WHERE WAS IT SOLD?
The only winning ticket was sold at a Publix in Neptune Beach, a small Florida beach town less than 20 miles east of Jacksonville.
The supermarket is located at 630 Atlantic Boulevard, which will receive $100,000 for selling the winning ticket.
Neptune Beach is a city of just over 8,000 residents and the median home price is estimated to be $800,000.
This marks the fourth time a jackpot-winning ticket has been sold in Florida.
HOW MUCH MONEY WILL YOU RECEIVE?
The new millionaire has two options: choose to pay in an annuity spread over 29 years or a cash payment of $783.3 million.
Federal and state taxes will also reduce the money you take home. However, Florida is one of 14 states in the country that does not tax lottery winnings.
As for federal taxes, the winner will see an automatic 24% withholding on their winnings. However, earning millions of dollars will put you in the upper bracket, which is taxed at 37% on income of $578,126 or more. That means you’ll almost certainly pay another 13% in taxes when you file your 2023 tax return.
