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After legal fees and taxes, that's about 500,000. Hope it was worth it.
by Overtonwindow 4y ago
After legal fees and taxes, that's about 500,000. Hope it was worth it.
- User23 4y agoJudgments aren't taxable income.
- yellow_lead 4y agoIt depends, actually.
- jimt1234 4y agoPlease explain. Genuinely interested. Thanks.
- starbase 4y agoJudgement for wages owed: taxable as wages Judgement for damage: non-taxable
- yellow_lead 4y agoSorry not an expert but I read that it depends on what type of judgement you receive. If it's wages owed, as a sibling comment said, you have to pay taxes. Medical judgement - no. Punitive damages - yes. I found this article as well which explains more in depth https://www.picnictax.com/are-legal-settlements-taxable-tax-implications-of-settlements-and-judgments/ https://www.picnictax.com/are-legal-settlements-taxable-tax-...
- rootusrootus 4y agoDepends on if the goal was a payday, or to send a message.
- devrand 4y agoWell they did reject a $15m payout after they won the first trial.
- kjksf 4y agoYes, because they wanted $160 million which is what their lawyers wanted in the second trail. In the first suit jury awarded $137 million, judge lowered that to $15 and they had an option to get that or have a new trial. They went with a new trial. So yeah, it was all about the money.
- Overtonwindow 4y agoWhat's worse, is that with the media coverage about this, a company is going to think twice about hiring that employee. I think lawsuits do more harm for the employee than good. Unless they just win an obscene amount of money to set themselves up for life, otherwise they have a scarlet letter.