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Whether or not punitive damages are taxable in New York City depends on the type of punitive damages. A punitive damage lawyer would be able to give you the specifics on the tax laws and punitive damages awards.
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Is punitive damage in a law suit taxable in New York city?
Punitive damages that are awarded in a lawsuit are generally not taxable in the state of New York. However, they can become taxable if they are used to pay or compansate the plaintiff for non-persoanal injuries.
Are capital gains taxable by New York City?
New York City taxable income is based on New York State taxable income, which taxes capital gains as ordinary income. Therefore, yes, NYC taxes capital gains.
Is gain on sale of rental property taxable to a non resident of New York City?
Yes
Interest on City of Boston Bonds - are they Taxable or non-taxable?
No city bonds are taxable
How much damage was done to New York City subways by Hurricane Sandy?
Water was in the tunnnels
When Hurricane Sandy hit did it do more damage in New York City or in New Jersey?
Far more damage was done in NJ than NY.
If all the people in New York City were to disappear what force of nature would cause the most damage to the city's infrastructure?
Water
When is the New York City Marathon held?
The ING New York City Marathon is usually held in the fall of each year. However, the 2012 race was cancelled due to the damage from Hurricane Sandy. The 2013 race is scheduled for November 3rd, 2013.
Is unemployment compensation taxable in the city of Pittsburgh Pa?
Unemployment Compensation is considered non-taxable income for the Earned Income Tax.
What type of damage will be most destructive to New York City when Hurricane Irene hits?
Not as bad as the south but its still a hurricane so it will do some damage. If you are prepared you'll be just fine.
What city is the largest city in New York?
New York City is the largest city in New York State.
What is the sales tax on labor in NY?
Many services, such as labor, are generally taxable in New York state. Installation, repair and maintenance are considered taxable services. New York has a destination based sales tax, so the sales tax varies depending on the location you perform the services. New York has different rates for each county, city, and special district, so you will need a tax rate calculator to determine the proper tax rate to collect. Y
