22.26 - G. Annuitized Payments; Reduction Of Judgment

• Jurisdiction: New York

G. Annuitized Payments; Reduction of Judgment

Several laws govern the amount and method of payment of judgments issued in state courts.

The court must reduce the amount of the verdict by amounts plaintiff received from collateral sources and amounts which would have been payable to the government as income taxes.³⁴⁴² In certain circumstances, the judgment must be reduced by amounts received from settling tortfeasors.³⁴⁴³

In negligence cases, future damages exceeding $250,000 must be paid to the plaintiff over time in the form of an annuity.³⁴⁴⁴ In medical malpractice actions, all past damages, plus 35% of the total present value of damages for future pecuniary losses, shall be paid in a lump sum, with the remainder paid to the plaintiff over time...