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This will completely depend on what kind of law suit it is and what the damages are for in the award as determined by the court. If it was a loss of income you may have taxes on the award or on part of the damages. If it was for an permanent injury you may not pay any taxes at all for the award. I will tell you that you will need to hire a professional accountant to do your taxes with an award like this.
What else can I help you with?
Why did the packers play in Milwaukee?
law suite in 1923
What is meant by a revenue law?
revenue law is a law pertaining to the collection of taxes to cover government expenses. They collect these taxes and place them into the treasury.
Is it the law to pay taxes?
Yes. There are no optional taxes. Whatever tax you are asking about, by its nature it is mandatory under the law.
Do welders pay taxes?
Welders that do not break the law pay taxes.
Do I have by law have to pay taxes?
yes you do.
What is statute of limitation for filing a civil law suite?
2 years
Can a mother get sole custody if there was child abuse?
Yes if there is a law suite
Can you file a third party law suite with no auto insurance?
yes
How much does it cost to add a mother-in-law suite to a home?
The cost of adding a mother-in-law suite to a home can vary widely depending on factors such as size, location, materials, and labor costs. On average, the cost can range from 50,000 to 150,000 or more. It is recommended to get quotes from contractors and do thorough research to get an accurate estimate for your specific situation.
If an individual passed away and left an estate worth 1.2 million what percentage of the assets would be subject to an estate tax under current law?
Under current 2021 federal estate tax laws, estates worth over $11.7 million for individuals would be subject to estate taxes. Since the estate in question is valued at $1.2 million, it falls below the threshold and would not be subject to estate taxes.
How much can you earn and not pay taxes?
every one has to pay tax its the law there is always a amount that will get paid as tax out off you wage
Can you not withhold federal taxes from my paycheck?
No, as an employer, I am required by law to withhold federal taxes from your paycheck.
