Are Punitive Damages Taxable in an Ohio Personal Injury Case?
10-25-26 | Personal Injury
Why Punitive Damages Get Taxed When Your Other Injury Compensation Doesn’t Key Takeaways: Punitive damages are generally taxable in an Ohio personal injury case, even though compensation for physical injuries, such as medical expenses, lost wages, and pain and suffering, is usually excluded from federal income tax. Federal law, specifically 26 U.S.C. § 104(a)(2), controls […]