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Automobile Accidents

Choosing Car Insurance Coverage before a Louisiana Car Accident Happens

Posted on 5/12/2011One Killed, Another Injured in Livingston LA Car Wreck
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Posted on 5/11/2011Critical Injuries in Bayou Blue Louisiana Wreck
Posted on 5/10/2011Sabine Parish Car Wreck Injures One

Automobile Accidents

Attorney Explains Types of Car Insurance Louisiana Drivers Should Know About (Part A)

Do you have to pay taxes on your car accident settlement in Louisiana? Is a car accident claim taxable money to you? Learn here from our Louisiana car accident attorneys.

Is the settlement for your automobile accident case in Louisiana taxable? The answer is no. In Louisiana, and under federal law, if you collect damages on account of a personal injury, which is generally what happens in an automobile accident, then Internal Revenue Code § 104 says that that money is not considered income to you during that year. If you're involved in an automobile accident and you collect a settlement, chances are the money you collect is not going to be taxable income to you.

Call us if you have any questions, if you've been involved in an automobile accident, if you have questions a possible settlement, or if you want to discuss your rights and choices after an automobile accident.