1970 Cuda Giveaway!!!

[MEK-Dangerfield]

Does the person who wins have to pay taxes on the value of the car???
I heard that poeple that win cars on The price is Right have to pay taxes on the total winnings as revenue. 

Welcome to the U.S. All winnings are taxable.

[351c4v71]

Bummer!
 

[acudanut]

Here in Kansas, you would only pay a tax for what you bought it for..A 100.00 dollar car (ticket) would be only around 20.00.  They won't estimate what the car is worth.

[MEK-Dangerfield]

Here in Kansas, you would only pay a tax for what you bought it for..A 100.00 dollar car (ticket) would be only around 20.00.  They won't estimate what the car is worth.

That's the State tax. The Federal tax is different.

[Super Blue 72]

I stil have not received a response from the Christian School if I can get a ticket not using Paypal/credit/debit card..... 

[KyBishop]

I used PayPal, quick and simple.  I received my ticket and receipt in the mail a couple days ago.

Not sure about the school, I spoke to a lady at Tom Raper RV.  The school may be limited on staffing and time.

[acudanut]

That's the State tax. The Federal tax is different.

Your right. My CPA tells me it's still about 1/4 of the cars value. That could mean alot of money.

[Super Blue 72]

They valued the car at $50,000 so 1/4 would be $12,500!     Still would be a great deal on this car but I don't have that amount lying around...

[351c4v71]

Sorry if I burst anyone's bubble my bringing up the tax issue.
It's just that in Canada , winnings are not taxable. So whether you win a car or 32 million $ , you don't pay any taxes.
I do like the idea of a muscle car raffle though. But I'll stick with the ones in Canada.

[acudanut]

Okay, so who is "they".  I am sure the DMV and the US Gov. would not value the car at 50k .

[Super Blue 72]

Okay, so who is "they".  I am sure the DMV and the US Gov. would not value the car at 50k .

"They" would be the people who advertised the raffle, mentioned in the first post.  Don't know how much it's really worth. 

[polarbear123]

"They" would be the people who advertised the raffle, mentioned in the first post.  Don't know how much it's really worth. 

It is a clone the price would be closer to 35

[SPEEDY1]

I used PayPal, quick and simple.  I received my ticket and receipt in the mail a couple days ago.

Not sure about the school, I spoke to a lady at Tom Raper RV.  The school may be limited on staffing and time.

Where did you find a link to pay with PayPal?

I have checked the site and there isn't one.......

[KyBishop]

Hmmm, looks like they removed that option.  It was available back when I purchased the ticket.  Now it says checks and cash only and I no longer see the link to pay via PayPal.

KB

[KyBishop]

Tomorrow is the big day.