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[email protected]> wrote in message
news:
[email protected]...
> The jetta isnt a great deal- you get a two year lease plus YOU pay
> insurance etc then have to return car. The bike was the best prize. The
> ride with Lance is no biggie since he wouldnt push himself and he
> wouldnt show what he's got so it'd be no better than riding with
> anyone else.
>
Actually any of the major prizes would have actually, probably sucked.
First, you have to pay income tax on the full retail price of the winning
item.
Then you have to pay your local sales taxes too.
As far as I can tell, the IRS wants their income tax money up front too, I
don't think a 1099 income declaration form at the end of the year would do
it.
..So for a $10,000 bike you would be out something like $2,500 income taxes
and around $850 sales taxes (here in Texas).
The Ride with Lance would be a huge shock, as it depends on what all the
full retial prices are for all of the extras they have tossed in, such as
airfare, hotels, rental cars, et cetera.
Plus according to the fine print of the rules, the contest authorities can
refuse to honor a ticket not received through proper channels, thus if you
sold the winning ticket to someone else, and they found out about it, they
would refuse to honor the winning ticket too.