HH Trailers Camaro Giveaway - Lateral-g Forums

*rayman* · #1 09-08-2005, 01:48 AM

I was flicking through a magazine in the newsagency this arve, and came across a very interesting ad for a trailer company giving away a tough looking 69 camaro.

Here's the link, it's a pity i can't enter:

http://www.hhtrailer.com/default.asp...e69sweepstakes

It's probably old news to you guys though. I love the stance the car has.

Clockwork · #2 09-08-2005, 05:46 AM

Thanks for the heads up Ray, I'm in.

**XcYZ** · #3 09-08-2005, 06:08 AM

Looks a little too low in the rear for me... but that wouldn't stop me from accepting it if I won! lol

907rs · #4 09-08-2005, 06:15 AM

Quote:

Originally Posted by XcYZ

Looks a little too low in the rear for me... but that wouldn't stop me from accepting it if I won! lol

Yeah, that could be fixed easy enough.

Derek69SS · #5 09-08-2005, 06:23 AM

Quote:

Originally Posted by 907rs

Yeah, that could be fixed easy enough.

...by lowering the front some more

RussMS · #6 09-08-2005, 06:49 AM

I am in.

Quote:

Information must be filled out completely and accurately in order to be entered. You can only enter once per day so make sure your information is correct before your submit your entry.

And will be entering every day as per thier instructions.

almcbri · #7 09-08-2005, 06:52 AM

I am in as well. hmm...which one would you take? 25,G's or the 40K car?
Wonder what taxes would be on a car like that?
Car is a little low for my like'n, but nice looking car.

RussMS · #8 09-08-2005, 07:19 AM

Quote:

Wonder what taxes would be on a car like that?

Per IRS:

Quote:

Winnings from lotteries and raffles are gambling winnings. In addition to cash winnings, you must include in your income bonds, cars, houses, and other noncash winnings at their fair market value.

But if you won it one of the following would likely happen:

Per IRS:

Quote:

Noncash payments. A noncash payment, such as a car, must be taken into account at its fair market value (FMV) for purposes of reporting and withholding. If the FMV exceeds $5,000, after deducting the price of the wager, the winnings are subject to 25% regular gambling withholding. The tax you must withhold is computed and paid under either of the following two methods:

1. The winner pays the withholding tax to the payer. In this case, the withholding is 25% of the FMV of the noncash payment minus the amount of the wager.

2. The payer pays the withholding tax. In this case, the withholding is 33.33% of the FMV of the noncash payment minus the amount of the wager.

So lets assume the winner pays and the FMV is the $40,000: Taxes to be paid by the winner (when they win): $10,000. That will go up or down when the tax return is filed on April 15. If you didnt pay it when you won you would likely have to pay it when you file your taxes.

I would argue though that the Fair Market Value of the vehicle is the same as the cash option or a sales price if sold for less than the stated Fair Market Value.

There is more than you probably ever wanted to know Andrew

**Streetking** · #9 09-08-2005, 07:58 AM

I saw that car at SEMA last year. It was ROUGH.. It was upstairs in their booth close to where "Overhauling" was going on. Unless it was completely rebuilt, you would have to start over..

I guess if it was "free", it would be ok..

SW

69rs · #10 09-08-2005, 10:05 AM

You guys don't have to enter anymore. I'm gonna win!

Quote:

Originally Posted by Streetking

I saw that car at SEMA last year. It was ROUGH.. It was upstairs in their booth close to where "Overhauling" was going on. Unless it was completely rebuilt, you would have to start over..

I guess if it was "free", it would be ok..

SW

It's probably not as rough as mine, is closer to being a g-machine than mine, and it's "free-ish"!