Taxation of personal injury and sickness awards.
| Jurisdiction | United States |
| Author | Pierson, Steven G. |
| Date | 01 May 1997 |
As part of the Small Business Job Protection Act of 1996 (SBJPA) (signed into law Aug. 20, 1996), Sec. 104 was amended to provide that gross income does not include "the amount of any damages (other than punitive damages) received (whether by suit or agreement and whether as lump sums or as periodic payments) on account of personal physical injuries or physical sickness." (Emphasis added.) The SBJPA also makes punitive damages of any kind taxable, except when awarded in a wrongful death...
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