The Commerce Journal,Business and Local Businesses
*The Commerce Journal>>>Other Taxes

Is non-pecuniary compensatory damages taxable?

Is non-pecuniary compensatory damages taxable?

Your question doesn't make sense. I've never heard of non-monetary compensatory damages.

Only damages for physical injury or illness are non-taxable. If you receive something other than money as the settlement, its cash value would be taxable if the settlement is taxable.

Tags
　　Boston 　　Austin 　　Atlanta 　　Other - Business & Finance 　　Other Taxes 　　United States Taxes 　　United Kingdom Taxes 　　Spain Taxes 　　Singapore Taxes 　　Mexico Taxes 　　Ireland Taxes
Related information
  • What is the process they will take to make my ex file his taxes??

    If he has no job, he has no income. What refund can you get? The only process they can take to make him file is for the IRS to file a return for him and say this is what you owe us. But that would ...

  • Do you think a national sales tax would work better than the current income tax schema?

    You are talking about the "Fair Tax Act" and my personal opinion is no, it wouldn't work out better. Rich, middle class, and poor all would pay the same % on purchases, which would h...

  • Whats income tax for? Does it go to the government or does it all go to the federal reserve?

    The income tax goes to pay for most things funded by the government. In 2006, the government collected $1.04 trillion in individual income taxes. Total tax receipts totaled $2.4 trillion. So...

  • Can someone explain what a 3-year cliff vesting schedule is?

    Cliff vesting is a schedule for vesting in which all accrued benefits derived from employer contributions become nonforfeitable after a participant has completed a specified period of service for t...

  • How much duty would I pay for an item from Japan to Canada worth $230 CAN?

    That would depend upon the item. Different duties apply to different things.

    ...
  • Income Taxes - where is the law!?

    If you don't like following what the majority of US citizens do here, then stop paying taxes. Maybe you'll get away with it, maybe you won't. If the IRS catches up with you, you'...

  • How much duty would I pay for "projector lens" from Japan to Canada worth $230 CAN?

    I believe the duty would be about 18%, so about $41.40 CN.

    ...
  • Should the private sector charge governments for collecting taxes and filling out government papers?

    Good luck in trying to do that. If anything then, the government would just raise taxes to cover the charges from the private sector for collecting taxes and filling out government papers. Oh, and ...

    • 　

    Commerce Categories--Copyright/IP Policy--Contact Webmaster