New York  |  Civil Litigation

Legal Question

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

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?

1 Answer


Answered on: 6/23/11, 7:45 am by Michael Markowitz

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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Michael A. Markowitz, PC 1553 Broadway Hewlett, NY 11557

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