Legal Question in Tax Law in Florida

I recently was awarded a 2.8 million lawsuit in the state of florida how much of that is going to go towards taxes


Asked on 1/26/12, 12:14 pm

1 Answer from Attorneys
John DeLancett Law Offices of John DeLancett, PL.

The answer depends upon what type of damages were awarded. For example, punitive damages are taxable. Damages for loss of income or lost profits are taxable. A review of the verdict form and the judgment and some research will be required to specifically answer your question.

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Answered on 1/26/12, 1:41 pm


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