Word count: 962. AS LAW -JUDICIAL PRECEDENT 4 star(s) The judgement can be divided into two areas; Ratio Decidendi which is the reason behind the decision. This is part of the judgement that sets out the core of the decision and the reason behind it. It is part of a decision which a future case must be decided by.
Prizes are considered taxable income regardless of whether the prize is in the form of cash, trips or merchandise. If you win a prize valued over $600, the sweepstakes or contest sponsor must report the value to you and the Internal Revenue Service on a Form 1099-MISC.Youâre still supposed to report and pay tax on prizes under $600.f you win a prize valued over $600, the sweepstakes or contest sponsor must report the value to you and the Internal Revenue Service on a Form 1099-MISC. Youâre still supposed to report and pay tax on prizes under $600.
Trust Income. An education trust fund may be created to pay income to the beneficiary. The trust fund disbursements are taxable to the beneficiary. Any income accumulated by the trust for the tax year but not distributed to the beneficiary is generally taxable to the trust.The principal amount in the trust is not taxable.he trust fund disbursements are taxable to the beneficiary. Any income accumulated by the trust for the tax year but not distributed to the beneficiary is generally taxable to the trust. The principal amount in the trust is not taxable.