09-04-2009, 10:20 AM
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#1
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Registered User
Join Date: Oct 2007
Location: Dallas, TX
Posts: 295
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Asheville Symphony 09 Boxster Raffle
Came across this in the latest issue of Excellence. Has anyone ever entered this contest? They've been doing it for years.
Asheville Boxster Raffle
They have 650 tickets left as of 8/18 at $125 each.
I'm #291/999  Fat chance I'll win but wouldn't that be awesome! Just have to cough up the cash for taxes.
 :dance:
__________________
TimAustinW
http://i226.photobucket.com/albums/d...ignature-1.jpg
02 Seal Grey, NHP Headers w/ Highflow Cats/2ndary Bypass Pipes, smoked side markers/3rd brake light, exterior match interior trim, 986 Lloyds Mats, 986 deck lid emblem, arctic silver intake grills, ipod link, painted calipers, Glass Window Robbins Top with defroster kit, Bose Sound System, Leather lower door panels, Console Lid w embroidered crest; Stainless door sills; Painted Bumperettes; Custom Hood Crest
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09-05-2009, 08:08 AM
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#2
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Registered User
Join Date: Jun 2005
Location: Surf City, NC
Posts: 1,079
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Hey, you got an unused $125 lying around - go for it!
__________________
Mike
04 Boxster S - Basalt/Savanna, 6sp, Carrera lites, hardtop
70 914-6 - Black over tan, original/stock
PCA since 1970
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09-05-2009, 05:48 PM
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#3
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Registered User
Join Date: Jul 2004
Location: Houston, Texas
Posts: 7,243
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I entered it two years in a row.
It is indeed the best one out there because they pay the taxes on the car and it costs you something like $100 total if you win it.
Er, um, $100 + the $125 you paid for the raffle ticket.
Needless to say, I did not win.
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09-05-2009, 08:32 PM
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#4
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Registered User
Join Date: Oct 2007
Location: Dallas, TX
Posts: 295
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This is what it says in regards to taxes...
"*The IRS now requires raffle winners to pay federal taxes on raffle winnings at the time of the award. The Asheville Symphony will pay to the IRS for the winner’s benefit an amount equal to 38.88% of our cost of the vehicle. The tax must be paid not only on the fair market value of the winnings, but also on the tax itself, therefore a grossed up tax rate of 38.88% of the winnings. This may or may not be the actual amount you will owe on your federal taxes. Please consult your tax advisor concerning your specific situation."
__________________
TimAustinW
http://i226.photobucket.com/albums/d...ignature-1.jpg
02 Seal Grey, NHP Headers w/ Highflow Cats/2ndary Bypass Pipes, smoked side markers/3rd brake light, exterior match interior trim, 986 Lloyds Mats, 986 deck lid emblem, arctic silver intake grills, ipod link, painted calipers, Glass Window Robbins Top with defroster kit, Bose Sound System, Leather lower door panels, Console Lid w embroidered crest; Stainless door sills; Painted Bumperettes; Custom Hood Crest
Last edited by TimAustinW; 09-05-2009 at 08:35 PM.
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09-05-2009, 09:33 PM
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#5
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Guest
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Great idea - and nice flyer.. Too bad Uncle sam has to F__k it up with taxes
Quote:
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Originally Posted by TimAustinW
This is what it says in regards to taxes...
"*The IRS now requires raffle winners to pay federal taxes on raffle winnings at the time of the award. The Asheville Symphony will pay to the IRS for the winner’s benefit an amount equal to 38.88% of our cost of the vehicle. The tax must be paid not only on the fair market value of the winnings, but also on the tax itself, therefore a grossed up tax rate of 38.88% of the winnings. This may or may not be the actual amount you will owe on your federal taxes. Please consult your tax advisor concerning your specific situation."
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