29.16 Tax Issues
| Jurisdiction | Arizona |
29.16 Tax Issues. Wrongful death recoveries ¾ whether from a settlement or judgment ¾ are generally not considered taxable income under the Internal Revenue Code. The Small Business Job Protection Act of 1996107 amended 26 U.S.C. § 104(a)(2) to provide that damages (other than punitive damages) received under a judgment or settlement of a claim for personal injury or sickness are excludible from gross income. The legislative history of the 1996 Act makes clear that this exception includes income received...
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