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re: Survivors of deadly DeRidder paper mill explosion awarded $104,000,000
Posted on 5/2/24 at 2:57 am to dkreller
Posted on 5/2/24 at 2:57 am to dkreller
quote:
I always wondered if taxes were accounted for in judgements.
There is no way to control how a jury will apportion the damages but in settlements, a good plaintiff's attorney will be cognizant of how the damages are structured in order to reduce or eliminate the tax burden for their client. Sometimes in jury verdicts, they apportion a large amount to punitive damages which are usually taxable. IME as a defense attorney it is rare a settlement for a tort action produces much if any tax burden to the plaintiff.
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