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SVTPerformance's Chain of Restaurants
Road Side Pub
Who wants to win a new GT from the Ronald Mcdonald House Charity?
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<blockquote data-quote="pan7eraboyca" data-source="post: 3371412" data-attributes="member: 12233"><p>They could of made it a little easier to keep...lol</p><p></p><p>"Taxes shall be the value of the Ford GT,</p><p>$152,445, less the amount of tickets purchased, then </p><p>compute 25% of the remaining balance to determine the</p><p>withholding tax. example is $152,445, less $200 in tickets</p><p>purchased equals tax base of $152,245. multiply .25% and</p><p>the tax due is $38,061.25. Winner has until November 1, </p><p>2006, or 39 days after the drawing to pay the tax to </p><p>Ronald Mcdonald House. Should the winner be unable </p><p>to pay the tax, then ronald mcdonald house shall </p><p>subsitute a cash prize of $100,000.00. the irs will demand </p><p>a 28% withholding since this now becomes a cash prize.</p><p>$100,000.00 multiplied by 28% is $28,000, so the winner </p><p>shall receive a cash award after taxes of $72,000.00</p><p>and shall forfiet all rights to the 2005 ford gt. the</p><p>2005 ford gt shall then be sold on the open market to</p><p>the highest bidder."</p></blockquote><p></p>
[QUOTE="pan7eraboyca, post: 3371412, member: 12233"] They could of made it a little easier to keep...lol "Taxes shall be the value of the Ford GT, $152,445, less the amount of tickets purchased, then compute 25% of the remaining balance to determine the withholding tax. example is $152,445, less $200 in tickets purchased equals tax base of $152,245. multiply .25% and the tax due is $38,061.25. Winner has until November 1, 2006, or 39 days after the drawing to pay the tax to Ronald Mcdonald House. Should the winner be unable to pay the tax, then ronald mcdonald house shall subsitute a cash prize of $100,000.00. the irs will demand a 28% withholding since this now becomes a cash prize. $100,000.00 multiplied by 28% is $28,000, so the winner shall receive a cash award after taxes of $72,000.00 and shall forfiet all rights to the 2005 ford gt. the 2005 ford gt shall then be sold on the open market to the highest bidder." [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Who wants to win a new GT from the Ronald Mcdonald House Charity?
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