We’re about to tell you everything you ever wanted to know and more if you were in a car accident in West Virginia. You’ll learn what you need to do after your accident and what the average settlement is for a car accident West Virginia.
How Long Do I Have To File A Lawsuit After My Car Accident in West Virginia?
After you’ve regained your composure after your car accident, you will want to reach out to a lawyer. In West Virginia you only have 2 years from the date of your car accident to file a lawsuit. This is the same whether you are seeking damages for personal injury or property damage. These two years go by quicker than you expect and it is recommended to get the ball rolling as quickly as possible.
The one exception to this is if your accident involved any type of government vehicle. In this case the laws are different but you will need to file quickly in this case, often within 90 days of your accident.
West Virginia Car Accident Settlement Calculator:
Have you been involved in a motor vehicle accident or otherwise injured in West Virginia? Find out how much financial compensation you may be legally entitled to in just minutes with our free online Injury Settlement Calculator.
West Virginia Accident Settlement Taxes
Fighting for your personal injury settlement was hard, but now you need to be concerned about paying taxes on it at the federal and West Virginia state levels. Fortunately, most of your personal injury settlement is paid to you without you having to pay taxes on it.
The good news is the IRS states in Title 26 Section 104(a) of the US Code that the government cannot tax damages that you receive in a personal injury settlement. This includes your medical expenses, most importantly. But if you took a tax deduction for any of those expenses, you would need to pay taxes on that income.
You also do not need to pay taxes on compensation received for property damage or loss, such as damage to your vehicle. Further, if you receive compensation for lost earning capacity, this is not taxable. But if you receive money for lost wages in the past, this is usually taxable as income at the federal and state levels.
It also is important to know that you will be taxed if you receive money for punitive damages. These are damages that are intended to punish the defendant and are not for any injuries that you suffered.
Further, note that you are not taxed on pain and suffering compensation if it is related to a physical illness or injury. But if it is only for mental suffering, then this is taxable.
Comparative Fault Rules In West Virginia
If you’ve been hurt in an accident West Virginia, the law determining your compensation is called “comparative fault.” It’s often tough to determine whose at fault for an auto accident and sometimes each party is at fault. This law means that each driver will be determined to be a certain percentage at fault for an accident and paid out accordingly. Let’s look at an example.
Assume you are in an accident and between injury, lost wages and medical bills the total is $50,000. If the jury after looking at the evidence determines that the other drive is 80% at fault you would get $40,000 which is 80% of the total $50,000 number. If you are deemed to be more than 50% at fault you will automatically not be eligible for any settlement.
If you have any questions that you are looking for further details, please visit West Virginia’s Department of Transportation website here
What’s The Average Settlement For A Car Accident In West Virginia?
If you’d like to see how much your accident settlement may be worth, please fill out this form and a West Virginia attorney will reach you shortly.