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The $36,000 apparently is 25% of the MSRP that the NCM collects for the IRS. I doubt they are in the 25% tax bracket so they will get some of that back. 6.25% sales tax is the $9000.
Looks like the MSRP was $144,000.
I understand the sales tax, but how does someone who wins a car in a raffle have to pay $36,000?
I agree that it's a still a great deal on a C8 Z06, but what's up with having to pay for something that you won?
taxable income, whether, cruise, horse/dog track, tv game show!!
New 1099-MISC Threshold for Prizes
Previously, the IRS tax rules required promotion sponsors to collect a completed Form W-9 from each prize winner and then to issue a Form 1099-MISC to the winner and to the IRS when the prize value reached or exceeded $600 in a calendar year. Under the new law, the Form 1099-MISC reporting obligation will generally apply only when the total value of prizes awarded to a recipient in a calendar year reaches or exceeds $2,000. As a result, sponsors will not have to collect Social Security numbers from winners of prizes valued at$1,999 or less, nor will they be required to issue a Form 1099-MISC for those awards.
taxable income, whether, cruise, horse/dog track, tv game show!!
New 1099-MISC Threshold for Prizes
Previously, the IRS tax rules required promotion sponsors to collect a completed Form W-9 from each prize winner and then to issue a Form 1099-MISC to the winner and to the IRS when the prize value reached or exceeded $600 in a calendar year. Under the new law, the Form 1099-MISC reporting obligation will generally apply only when the total value of prizes awarded to a recipient in a calendar year reaches or exceeds $2,000. As a result, sponsors will not have to collect Social Security numbers from winners of prizes valued at$1,999 or less, nor will they be required to issue a Form 1099-MISC for those awards.
Oh, I've never been an athlete. I'm active (I do plenty of physical work and I'm hyper), but I'm not a fan of soreness or practice. I also never stretch. I just do. Probably its just because its spring and my body isn't used to as much. Physical activity does slow down in the winter.
Same- I am feeling beat. I know its prob because of the freaking long winter...body isn't used to being on its feet so much...itll come around. I hope. LOL
My cars are all back in the garage. So I feel better. I hate parking cars outside.
Floor looks excellent with cars on it. Now I feel back the newer part of the garage where the Corvette sits isn't done.
Next year.... Next year...
Our garage has been a mess off and on for MONTHS! Now it's a mess again- painting the corvette only thing on the floor...it's a bit of a challenge...may work on it today...home alone, first time in awhile.
It is a beautiful day here today. Going to dinner with the corvette club this evening.
@frankbicknell the "open to all" meeting is the 20th- are you interested in joining the club?
Thank you for the thought. That is a little far for us, although I am still pondering. I want to go to a couple of other events like the one at the Air force Museum. I did join the Ft Thomas club which is 10 miles away. They do not seem to be as active as others.
^^^That IS the club. They are very active. The organizer of the cruise up asked if you may be interested in joining. Check them out online.
Oh-the cars and coffee is this Saturday. Starts at 9a. Air Force museum.
I was so bummed to miss the Buds event. I need to work on my aversion to road dirt on the vette.
Pizza places **** me off....won't deliver because under $10...even after they added a $5 delivery fee and less than a mile away...******* i am am one person household, even a medium will last 2 days
Pizza places **** me off....won't deliver because under $10...even after they added a $5 delivery fee and less than a mile away...******* i am am one person household, even a medium will last 2 days
Youre like a male Chatty Cathy. Yes?
wth kind of bar do you frequent? All kinds of weirds in there
Well you aren't there, so not that weird (runs and hides) Sidecar social is kinda a touristy spot. Its at the star complex were the dallas cowboys practice, several bars and restaurants in that area
Great news for Corvette winners!!!! 
