Government
Mar. 28, 2017
Bill would remove tax deductions for punitive damage awards
Punitive damages would no longer be tax deductible in California under a bill moving forward in the state Legislature.
Daily Journal Staff Writer
Punitive damages would no longer be tax deductible in California under a bill moving forward in the state Legislature.
"SB 66 is about codifying the principle that jury awards should not be undermined and we, the taxpayers, should not be subdividing fraudulent, malicious and oppressive acts of wrongdoers," Sen. Bob Wieckowski, D-Fremont, told the Senate Governance and Finance Committee l...
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