After federal taxes, the winner is likely to take home around $493.5 million if they chose the lump sum payment route.
Topline
A ticket sold in Florida won the $1.58 billion Mega Millions jackpot on Wednesday—the second-largest lottery reward won by a single person in U.S. history—although the final amount the winner will get to take home will be far smaller after taxes and other deductions are taken into account.Key Facts
Mega Millions announced that the winning ticket sold in Florida was the only one in the country that matched all six numbers drawn on Tuesday night.
The winning ticket holder can choose between receiving the $1.58 billion record payout spread over 30 annual installments or a lump sum amount of $783.
