Millionaire Made in Florida as Mega Millions Winner Emerges
Millions of people woke up on Wednesday to the bitter news that they were not the lucky ones, but for one Florida resident, life will never be the same again as they emerged as the sole Mega Millions winner. The lottery had accumulated a staggering $1.580 million on Tuesday, making it the largest prize in its history. The fortunate individual now has the choice to receive the prize as a single cash payment of $783.3 million or an annual payment spread over 29 years.
The winning combination of numbers that changed a life forever were 13, 19, 20, 32, 33, and the Mega Ball 14.
The winning ticket was purchased at a Publix supermarket in Neptune Beach, a quaint Florida beach town located less than 20 miles east of Jacksonville. The specific address of the supermarket is 630 Atlantic Boulevard, which will receive $100,000 for selling the winning ticket.
Neptune Beach, with its population of just over 8,000 residents, is now buzzing with excitement as news of the winning ticket spreads. The median home price in this small city is estimated to be $800,000, giving an indication of the wealth it is now welcoming.
While the identity of the newly minted millionaire remains unknown for now, Florida law requires that winners’ names be released after 90 days. So, the lucky winner will no longer be able to remain anonymous for much longer.
This marks the fourth time that a jackpot-winning ticket has been sold in the state of Florida, solidifying Florida’s status as a lucky place for lottery players.
Now, the million-dollar question for the winner: how much money will they actually receive? There are two options available to them – they can choose to receive the prize money through an annuity spread over 29 years, or they can opt for a single cash payment of $783.3 million.
Although taxes will eat into the final amount, the good news is that Florida is one of 14 states in the country that does not tax lottery winnings, so the winner will not have to worry about state taxes. However, at the federal level, there will be an automatic 24% withholding on their winnings. It’s important to note that earning millions of dollars will place the winner in the highest tax bracket, where income over $578,126 is taxed at 37%. This means that when the winner files their 2023 tax return, they will likely owe an additional 13% in taxes.
As the search for the lucky millionaire continues, excitement and anticipation are spreading throughout the community of Neptune Beach. With their newfound fortune, the winner will have the opportunity to make lifelong dreams come true and leave a lasting legacy in their community.