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Are settlements from auto accident taxable?
Depending on the state. In Georgia you are liable for state tax on money earned from an auto accident injury claim. Some states do not have state tax's or tax codes that would apply. Federal taxes...
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Are proceeds from a malpractice settlement taxable?
I am not an expert - but - for what it is worth, I would have thought they were not taxable, as they are not really earnings - they are payment to you to compensate for harm done to you.....however...
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Is a settlement for mesothelioma injury taxable?
There are certain parts of the settlement that will be taxable and there are certain parts that are not. But the chunk of it will likely not be taxable including special damages-compensation for pain...
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Are settlement proceeds taxable?
The IRS states that only settlements due to physical or emotional injury are non taxable, for instance if you received a settlement for mesothelioma.States however may tax settlements as ordinary...
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What do companies do to ensure product liability?
"They try to avoid being liable for damages inccured for their products, often that is why companies have LLC or Limited Liability Company on the end of their name/title"