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although i live in Indiana i am not sure. but the tax in Indiana is .07 right? multiply two half million dollars by .07 and get your answer. then subtract that answer from two half million dollars

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When you win that much money, your (newly hired) tax attorney can help you manage your finances so that your tax rate is minimized. Winnings would be categorized as income, and at that amount, you may end up in one of the higher brackets. Between state and federal taxes, you could pay up to 40% of your winnings.

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13y ago

What else can I help you with?