There are various benefits that an individual might receive in a workers’ compensation case. It does not matter the amount of money received or what the money is for, the funds received in a workers’ compensation claim are not taxable under state or federal laws. Consequently, it will not matter whether you receive reimbursement for lost wages, money based on a permanency rating, or funds to closeout future medical claims, none of money received will be taxable.
Minnesota workers’ compensation cases can often be very complicated and it is always beneficial to have your own attorney who can advise and guide you through all the pitfalls and phases of this complex system and to ensure that you receive all of the many benefits that are available to injured workers.
If you have sustained an injury on the job and have questions, contact a workers’ compensation attorney at Meyer, Puklich & Merriam. Our firm represents injured workers throughout the entire state of Minnesota. Contact one of our attorneys now for a free consultation at 952-249-0111 or visit us online at www.meyerpuklich.com.