Q1- Which state has the highest amount of Alimony in terms of dollar and period?

Question

Q1- Which state has the highest amount of Alimony in terms of dollar and period?

Q2- Which state has the lowest amount of Alimony in terms of dollar and period? Problem - Jhon is divorced in Texas and as part of his settlement, he is receiving $20K per month as spousal support and community assets settlement agreement. Texas low allows spousal support of $5.000 or 20% of his wife annual salary of $200,000 for a maximum of 5 years, whichever is lower.

Q3- How much John's monthly receipt is alimony and how the alimony is treated for tax purpose by both party? per divorce agreement, John keeps 50% of the ownership of the business they owned before the divorce, but no control over how to manage and operate the business.

Q4 - How is the payment to john treated during the first five and after five years?

Explanation / Answer

1.Answer

In most states, deductions for credit union payments and wage attachments are not subtracted when calculating net income. Thus, if John makes $2,000 per month, and income tax, Social Security, unemployment insurance benefits and other government deductions reduce his income to $1,500, this is his net income. The fact that $300 more is withheld to pay a credit union loan does not further reduce his net income for the court's purposes. The reason for this rule is that the law accords support payments a higher priority than other types of debts, and would rather see other debts not paid than have a spouse go without adequate support

In several states, a spouse may pay his total alimony obligation at the time of the divorce by giving the other spouse a lump sum payment equal to the total amount of future monthly payments.

States which allow lump sum support include:

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