Let’s see, attorneys get about $500K that leaves $1 mil to split between mom and dad( I think they are divorced) Within a 6 months they will blow through that.
Punitive damages are usually considered taxable income. So assuming the top fed tax rate of 39.6% and Missouri’s top rate of 6%, roughly $684,000 will go to taxes and $500,000 to the lawyers, leaving the family with about $316,000.
These are compensatory. No federal tax. Don’t know how their State handles.