Legal Question in Civil Litigation in New York

Is the money received as a result of an out-of-court settlement taxable when the defendant does not admit negligence or any culpability so that it is difficult to infer what the money is to compensate for?

Asked on 6/22/11, 7:45 pm

1 Answer from Attorneys

Michael Markowitz Michael A. Markowitz, PC
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Please re-submit the question and let us know the type of action that was settled. In particular, I need to know whether it was a personal injury or contract action. If a contract action, please let me know the underlying allegations in the complaint.

Mike.

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6/23/11, 7:45 am

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