[ZR1] ZR1 Hero Edition
01-22-2010, 06:45 PM
#1
6th Gear
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ZR1 Hero Edition
I just came across this and thought I would share. It's being given away tomorrow at Summit Racing in Mcdonough, GA.
http://www.corvetteconti.com/blog/?p=8858#more-8858
http://www.corvetteconti.com/blog/?p=8858#more-8858
01-22-2010, 07:28 PM
#2
Le Mans Master
Yes, I had tickets in the drawing so they sent the announcement to me. It seems very fitting where the two vettes will end up. That's gotta be one happy State Trooper !!
Last edited by ufaj26; 01-22-2010 at 07:30 PM.
01-23-2010, 06:28 AM
#4
Le Mans Master
Plus the way I read it you only had a very short time (a week?) to raise the dough to cover the taxes......... in other words if you were not already doing OK you could not win the cars even with the winning ticket
Doug
01-23-2010, 09:39 AM
#7
Burning Brakes
Very nice.
Look Mike they even changed the caliper color and this is what I was telling you what you could do about the see-through section of the hood...
Look Mike they even changed the caliper color and this is what I was telling you what you could do about the see-through section of the hood...
Last edited by DJ'sZ; 01-23-2010 at 09:42 AM.
01-23-2010, 09:56 AM
#8
I too had figured it to be somewhere in that area.......... I thought it was really cheap on the part of the charity that is always a moneymaker for someone not to cover the taxes........they did last year.
Plus the way I read it you only had a very short time (a week?) to raise the dough to cover the taxes......... in other words if you were not already doing OK you could not win the cars even with the winning ticket
Doug
Plus the way I read it you only had a very short time (a week?) to raise the dough to cover the taxes......... in other words if you were not already doing OK you could not win the cars even with the winning ticket
Doug
Either way they should have added more money to each ticket to cover the taxes.
01-23-2010, 10:16 AM
#9
Instructor
01-23-2010, 10:19 AM
#10
Speaking of lotto winning, ever watch that show about lotto winners? Some of those people got taxed 65% on there winnings. I could not beleive it.
Last edited by NotEnoughToys; 01-23-2010 at 10:23 AM.
01-23-2010, 10:22 AM
#11
Instructor
01-23-2010, 11:55 AM
#13
Instructor
Member Since: Sep 2001
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I won a coupe in a charity raffle. I traded it and my Z06 for a 2010 ZR1.
They collected a "gift tax" which was 25% (and I am in the top tax bracket) not income tax. I thought it would be income tax also but it wasn't. I had to get a letter from the dealer stating what fair market value for the car was and the 25% was based on that, not what the car listed for or even what the charity paid for it, but what fair market value was that I could get for it. I haven't filed my income tax yet but that is how it was handled when I won the coupe.
They collected a "gift tax" which was 25% (and I am in the top tax bracket) not income tax. I thought it would be income tax also but it wasn't. I had to get a letter from the dealer stating what fair market value for the car was and the 25% was based on that, not what the car listed for or even what the charity paid for it, but what fair market value was that I could get for it. I haven't filed my income tax yet but that is how it was handled when I won the coupe.
01-23-2010, 01:38 PM
#14
Le Mans Master
that sucks.
01-23-2010, 01:55 PM
#15
Race Director
Can the Trooper take out a lein against the ZR1 to cover those taxes, or does he have to pay them before he can take the title? If so, what is the value of a '66 427 Vette these days?
Could be a huge OUCH!
Could be a huge OUCH!
01-23-2010, 05:59 PM
#18
Race Director
they do it every year, awesome to win but yes about 60k in taxes but worth it to have 2 bad *** vettes. i am sure a bank would loan the $ and you would pay it just like a normal auto loan.
