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Originally posted by Battle Pope@Oct 13 2004, 09:09 AM
/DrPhil
Now, that was a very hateful comment! Son, do you have any issues with your childhood? Did your daddy touch you in strange places?
/DrPhil
I hate that balding bastard.
[post=402103]Quoted post[/post]
Originally posted by reckedracing@Oct 13 2004, 10:33 AM
these vehicles weren't really won
they were gifts...
and these were not random people that went to see oprah, these were people deemed needy or special, so they were invited to this special show...
and oprah sucks ass anyway...
she should go eat a twinkie and stay out of everyone else's lives...
and take that fucktard dr. phil with her
[post=402093]Quoted post[/post]
Question - what if the game worked like this . . . . the people won a chance to buy the car for $1. Then, taxes would only be $.05 here in MA . . . . .
could that legally be done?
Originally posted by reckedracing@Oct 13 2004, 01:09 PM
Question - what if the game worked like this . . . . the people won a chance to buy the car for $1. Then, taxes would only be $.05 here in MA . . . . .
could that legally be done?
ahhh young one...
not so fast...
the IRS has rules on buying something that is grossly underpriced for the sake of avoiding taxes... if you buy something that is blatently underpriced you should expect to pay tax on the diffrence between fair market value and purchase price at your current income tax rate...
DMV would also hit you on the sales tax with the same principal...
grossly underpriced = fair market value - purchase price = income...
[post=402175]Quoted post[/post]
Pontiac, a division of General Motors, has also agreed to pay sales tax for each membr of the lucky audience.
Originally posted by reckedracing@Oct 13 2004, 03:57 PM
this is a tax on income, not a sales tax...
gifts of over 10K are considered taxable income...
thus the fair market value of the cars are recognized as taxable income according to the IRS...
and the tax is up to 7K depending on the taxpayers current income level, which determines their tax rate...
i assume most will not be in such a high income bracket as to pay 7K on the cars...
[post=402230]Quoted post[/post]