Settlements
Are Personal Injury Settlements Taxable in New Mexico?
Although our law firm does not usually offer tax advice, we feel that it is our responsibility to let our potential and current clients know the tax status of personal injury settlements. If you are seeking a personal injury settlement in New Mexico, or if you have received a personal injury settlement in New Mexico, you might wonder, is that personal injury settlement taxable as income?
The answer to this question is no, at least not typically. There are a few exceptions to this law, however.
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