Louisiana Law | Louisiana Law Topics | General LA law (Moderator: lex) | Personal Injury Award Taxable?
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Site Author : Topic: Personal Injury Award Taxable?  (Read 418 times)
March 01, 2010, 06:07:58 PM
Mace
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I'm a resident of Louisiana and I was injured on the job in Louisiana.  I received a (Product liability) award/settlement.

From this award I must pay back workman's comp and attorney fees. 

This award was for my injury only.  I was not awarded missed work compensation. 

My question is will I have to pay taxes on this award?  What kind of tax will I have to pay if any?

Thank you in advance.  mace
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March 03, 2010, 01:28:47 PM
lex
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In general terms (there can always be exceptions) an award for pain and suffering is not income taxable whereas an award for lost wages is subject to income taxes.
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