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#1
04-13-2005, 06:52 PM
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 Re: Antitrust Litigation Settlement - Taxable? Harlan Lunsford wrote: - quote - > Janice wrote:
Given how class action awards are split between the lawyers> > Last year, any music compact disc purchaser who filed a > > valid claim received a check for $13.86 from their state > > Attorney General for the settlement of an antitrust lawsuit > > brought by 43 states against several major record companies > > charged with price fixing. Does anyone here know whether or > > not this counts as taxable income? > Only if said compact discs were used in a business setting > with of course pertinant ASCAP fees paid. and the claimants most awards could be treated as deminimouse. I filed a claim by mail for one of these (37 cents postage) and got a check for 12 cents. The lawyer's fee was vastly larger than that. -- Frederick E. Jorden http://Tax-Accounting-Payroll.com 7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com (804) 320-6210 FAX (804) 320-6211 << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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04-12-2005, 08:36 PM
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| Re: Antitrust Litigation Settlement - Taxable? Janice wrote: - quote - > Last year, any music compact disc purchaser who filed a
Only if said compact discs were used in a business setting> valid claim received a check for $13.86 from their state > Attorney General for the settlement of an antitrust lawsuit > brought by 43 states against several major record companies > charged with price fixing. Does anyone here know whether or > not this counts as taxable income? with of course pertinant ASCAP fees paid. ChEAr$$$, Harlan Lunsford, EA n LA 11 Apr 2005 4 days and counting...... down.....\ << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
04-11-2005, 05:54 PM
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| Antitrust Litigation Settlement - Taxable? Last year, any music compact disc purchaser who filed a valid claim received a check for $13.86 from their state Attorney General for the settlement of an antitrust lawsuit brought by 43 states against several major record companies charged with price fixing. Does anyone here know whether or not this counts as taxable income? Thanks. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| antitrust, litigation, settlement, taxable |
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