Commonwealth Consolidated Acts Commonwealth Consolidated ActsA payment of a * personal injury lump sum that is made to the * injured person is exempt from income tax if:
(a) there is at least one * personal injury annuity (provided under the same * structured settlement or * structured order) that satisfies the conditions in Subdivision 54 - B; and
(b) the other conditions in this Subdivision are satisfied.
Note: Section 54 - 70 provides a tax exemption if the payment is instead made to the trustee of a trust.