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re: Survivors of deadly DeRidder paper mill explosion awarded $104,000,000
Posted on 5/2/24 at 2:22 am to dkreller
Posted on 5/2/24 at 2:22 am to dkreller
quote:
Not before the lawyers take their assumed 33% and the tax man calls.
The lawyer's fees may be more since it went to trial and there are also the costs on top of fees. On the tax side depending on how the verdict was apportioned very little of it may be taxable. The article didn't mention any breakdown of damages (ie compensatory vs punitive) but it did mention interest being part of the amount. Interest is taxable.
1
Posted on 5/2/24 at 2:44 am to Obtuse1
I always wondered if taxes were accounted for in judgements.
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