We will received a settlement from a lawsuit over the rental income.
Are the settlement funds by company a considered taxable income for business and occupation tax purposes?
If it will be "Yes", what is this settlement subject to the B & O tax?

I was injured quite badly last year in a motorcycle/auto accident and have just received a fairly large settlement from AAA Michigan. Does anyone know if this is considered taxable income, or is it taxable in a different way?

I’ll be paying H&R Block to do my taxes this year due to a few complications in my life, but can anyone give me a heads up on this area? I need to know if I can start paying the bills accrued due to my ‘downtime’ or should I reserve some for taxes…

Thanks in advance, Rick
All past, present, and future medical bills are covered by AAA directly, and lost wages were paid in full while I was off work. The settlement is for ‘pain and suffering’ and what I need it for is to have someone finish a house I started to build before the accident. I am unable to climb on the roof, etc. like before so can’t do it myself as planned. Also there was a considerable amount of interest paid on another house I borrowed against to fund the new building. Yes, I know that amount is deductable.

A scholarship/financial aid application to a pre-college music school for our child requires you to include/show all non-taxable income, but our personal injury compensation does not fall under the category of income. (It is also non-taxable.) Need we mention it?