Antitrust Litigation Settlement - Taxable?


J

Janice

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.
 
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H

Harlan Lunsford

Janice said:
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.

ChEAr$$$,
Harlan Lunsford, EA n LA
11 Apr 2005
4 days and counting...... down.....\
 
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F

Frederick Jorden

Harlan said:
Janice wrote:
Only if said compact discs were used in a business setting
with of course pertinant ASCAP fees paid.
Given how class action awards are split between the lawyers
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.
 

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