Are Pennsylvania Personal Injury Settlement or Verdicts Taxable?
Personal Injury verdicts or settlements in Pennsylvania are usually not taxable by the federal government or the State of Pennsylvania. Personal Injury proceeds are compensation, not income. Exceptions include Punitive Damages, Confidential Settlements and Wrongful Death proceeds. In those cases, the proceeds may be taxable.
For more information on whether Personal Injury proceeds are taxable, contact Tim Rayne at 6108400124 or email@example.com.