$1.58 billion jackpot goes to lucky Mega Millions player in Florida

[Collection]If the winner chooses the annuity option, they would receive a $1.58 billion payout distributed over a span of 30 years. However, the more popular choice tends to be the lump sum, which, in the case of Tuesday's jackpot, is estimated at $783.3 million. It's important to note that the prize amount is subject to federal taxes, and several states also impose taxes on lottery winnings.