Re: Win yourself a 69 COPO Camaro!!
 

As the COPO car prize winner, the taxes on $150K for the car would be be about $60K out of pocket for the winner, or about $50K net after taxes if you took the cash. https://www.yenko.net/ubbthreads/imag...emlins/eek.gif
Count on an IRS audit for 2005 as well. https://www.yenko.net/ubbthreads/imag...thumbsdown.gif
Be careful what you wish for, and remember that thing about death and taxes.
Here's the big question, though. If you're the lucky winner and really want the car, but don't have the money for what it will cost to take delivery, what would you do then? https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Re: Win yourself a 69 COPO Camaro!!
 

I got my 60 tickets coming....im feeling like a winner!!

Re: Win yourself a 69 COPO Camaro!!
 

So wouldnt 50000 tickets cost about 8300?

Re: Win yourself a 69 COPO Camaro!!
 

Related to the taxes, did i miss something? What tax percentage are you using, at 10% its 15K?? How is this treated - - as 150K income??

Re: Win yourself a 69 COPO Camaro!!
 

I think you have to add the value into your normal yearly income and that may bump you to a different bracket with the higher gross for the year..if you cant delivery of the car sell your ticket to someone willing to go for it.

Re: Win yourself a 69 COPO Camaro!!
 

Yes i see....its treated as income then....plus the registration tax on top...

Re: Win yourself a 69 COPO Camaro!!
 

hey..why not let the kid or dog win it if it happens..then only pay tax on the car and not mess up the house taxes.... https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Re: Win yourself a 69 COPO Camaro!!
 

It's a 69 Camaro, worth about $300 according to the Mass excise tax I pay on my pace car. If insurance companies (no collector car agreed value policy) want to pay you 300 bucks if you total it then thats how it should be taxed.

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
So wouldnt 50000 tickets cost about 8300?

[/ QUOTE ]If 60 tickets for $100 is they best deal they'll give you, then 50,000 tickets would cost you $83,333.33 https://www.yenko.net/ubbthreads/imag...s/rolleyes.gif Seems like a lot to spend on tickets to win a $150,000 car, especially if 150,000 tickets have already been sold. That's only roughly a 1 in 3 chance of winning approximately 150K worth of car on an 83K bet. A roulette wheel would give you better odds. I'll be hoping they pull 1 of my 3 tickets out, then I'll have to worry about where I'm gonna get the coin to pay Uncle Sam.

Re: Win yourself a 69 COPO Camaro!!
 

Yeah, if I were to actually win, I might have to take out a 2nd mortgage to pay the taxes. Unless I can get someone to appraise it for $300! It is a 36 year old car and with depreciation it can't really be worth much, can it? https://www.yenko.net/ubbthreads/imag...mlins/grin.gif

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
[ QUOTE ]
I just bought another 50,000 tickets https://www.yenko.net/ubbthreads/imag...ns/naughty.gif
They said they have sold 150,000 tickets so far https://www.yenko.net/ubbthreads/imag...emlins/eek.gif This is for a great cause!!
Ill have to do this for my travel baseball team, who wants to get rid of their old dusty Yenko?

[/ QUOTE ]

Sam..It is too early for math here..Did you really buy 50000 tickets ? How much did they cost ?

[/ QUOTE ]
Nah, I actually bought 120 or 200.00 bucks worth https://www.yenko.net/ubbthreads/imag...mlins/wink.gif

Re: Win yourself a 69 COPO Camaro!!
 

Today is the big day! Get out your tickets boys. https://www.yenko.net/ubbthreads/imag...ns/naughty.gif https://www.yenko.net/ubbthreads/imag...s/headbang.gif

Re: Win yourself a 69 COPO Camaro!!
 

i assume you will post the winning number? im still waiting for my tickets!!

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
As the COPO car prize winner, the taxes on $150K for the car would be be about $60K out of pocket for the winner, or about $50K net after taxes if you took the cash. https://www.yenko.net/ubbthreads/imag...emlins/eek.gif
Count on an IRS audit for 2005 as well. https://www.yenko.net/ubbthreads/imag...thumbsdown.gif
Be careful what you wish for, and remember that thing about death and taxes.
Here's the big question, though. If you're the lucky winner and really want the car, but don't have the money for what it will cost to take delivery, what would you do then? https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

[/ QUOTE ]

Oh s*it, now I hope I don't win this car.

Re: Win yourself a 69 COPO Camaro!!
 

Hey, it's after 2pm eastern time. So who's the lucky (or now unduly burdened) winner???

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
[ QUOTE ]
As the COPO car prize winner, the taxes on $150K for the car would be be about $60K out of pocket for the winner, or about $50K net after taxes if you took the cash. https://www.yenko.net/ubbthreads/imag...emlins/eek.gif
Count on an IRS audit for 2005 as well. https://www.yenko.net/ubbthreads/imag...thumbsdown.gif
Be careful what you wish for, and remember that thing about death and taxes.
Here's the big question, though. If you're the lucky winner and really want the car, but don't have the money for what it will cost to take delivery, what would you do then? https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

[/ QUOTE ]

Oh s*it, now I hope I don't win this car.

[/ QUOTE ]
No Prob, if you win Ill give you a few hundred bucks for your $5.00 ticket. Then we both win https://www.yenko.net/ubbthreads/imag...ns/naughty.gif

Re: Win yourself a 69 COPO Camaro!!
 

So what happened ?

Re: Win yourself a 69 COPO Camaro!!
 

Good question, The ALS website didn't Post anything yet. Somebody who frequents this site must have been there and should have posted it here. At least as of now I still have a chance. No probably not because I would have got a email or a phone call. I will just keep playing the powerball then.

Re: Win yourself a 69 COPO Camaro!!
 

Hey guys I was in GR only about 2 blocks away at the time with the wife and daughters.They were shopping,I was sitting in the truck waiting as usual.I could have gone over to Berger and witnessed the drawing first hand.Believe me I thought about it.Then if someone from the board would have won I could have tried it out for ya https://www.yenko.net/ubbthreads/imag...ins/3gears.gifHave no fear I would have been gentle with it.Whats the saying "Drive it like ya stole it".
Kendall

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
So what happened ?

[/ QUOTE ]

The winner is probably trying to find the money to both pay the taxes and get a divorce.

Re: Win yourself a 69 COPO Camaro!!
 

Just got a reply from ALS..The winner is from Illinois!
They are trying to locate him...Probably at a bank looking for the $50K taxes to pay.
Congrats to the winner https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
Just got a reply from ALS..The winner is from Illinois!
They are trying to locate him...Probably at a bank looking for the $50K taxes to pay.
Congrats to the winner https://www.yenko.net/ubbthreads/imag...lins/beers.gif

[/ QUOTE ]
It was rigged! Probably Belair..Come on Bob, you set this up didnt you https://www.yenko.net/ubbthreads/imag...mlins/grin.gif https://www.yenko.net/ubbthreads/imag...elairSucks.gif

Re: Win yourself a 69 COPO Camaro!!
 

I am very suprised and impressed that they sold enough tickets to give away the car and not just have a 50-50 raffle.

Re: Win yourself a 69 COPO Camaro!!
 

When I talked to them last week they had sold over 150,000 tickets..I believe they did pretty well..Great Cause, My Uncle has ALS and is doing pretty well. He is still working a few times a week with good days and bad..

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
Just got a reply from ALS..The winner is from Illinois!


[/ QUOTE ]

Illinois huh? https://www.yenko.net/ubbthreads/imag...mlins/hmmm.gif

Re: Win yourself a 69 COPO Camaro!!
 

Could it be Darren??? https://www.yenko.net/ubbthreads/imag...emlins/eek.gif https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Re: Win yourself a 69 COPO Camaro!!
 

Do I cross my fingers or curse about where I am going to come up with 50k? https://www.yenko.net/ubbthreads/imag...mlins/haha.gif

Re: Win yourself a 69 COPO Camaro!!
 

Put a second on your house...you got that call yet? https://www.yenko.net/ubbthreads/imag...ns/burnout.gif

Re: Win yourself a 69 COPO Camaro!!
 

Well, it was a good cause and all........ Good way to explain to the wife why I was gamblin'. "See Dear, it was not for me, but for the ALS foundation" https://www.yenko.net/ubbthreads/imag...lins/smile.gif

Rich

Re: Win yourself a 69 COPO Camaro!!
 

Be nice if they posted the winning numbers https://www.yenko.net/ubbthreads/imag...s/rolleyes.gif
I just got the rest of my tickets in the mail..

Re: Win yourself a 69 COPO Camaro!!
 

Ok, heres the deal...I WON!!

Only kidding, I talked to Charley Bridefield(sp?) and the winner didnt write down his phone number or email and they sent him a certified letter and are waiting for a reply. He will call me when they do and Ill post the info. If the guy doesnt get back to them they will redraw another winner...Please stop calling and emailing them as they are overwhelmed by all of us doing that..They will also be doing another drawing this year for a Shelby 350 mustang. The winner of the COPO is from Northern Illinois and his name is William.

Re: Win yourself a 69 COPO Camaro!!
 

WOW, I hope they do more than that to locate the winner. Imagine having a second drawing and giving away the car, with the original winner coming forward afterwards. Hope they put more effort than a letter into finding the real winner.

Re: Win yourself a 69 COPO Camaro!!
 

I don't, because I don't live in Illinois.

Re: Win yourself a 69 COPO Camaro!!
 

"The winner of the COPO is from Northern Illinois and his name is William."
Congrats Bill! https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: Win yourself a 69 COPO Camaro!!
 

[ QUOTE ]
"The winner of the COPO is from Northern Illinois and his name is William."
Congrats Bill! https://www.yenko.net/ubbthreads/imag...lins/beers.gif

[/ QUOTE ]

Thanks, see you all at SCR9 https://www.yenko.net/ubbthreads/imag...mlins/grin.gif

Re: Win yourself a 69 COPO Camaro!!
 

See you on Thanksgiving...! https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: Win yourself a 69 COPO Camaro!!
 

Looking forward to it, Bruce https://www.yenko.net/ubbthreads/imag...mlins/cool.gif https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: Win yourself a 69 COPO Camaro!!
 

Bring the COPO https://www.yenko.net/ubbthreads/imag...emlins/eek.gif https://www.yenko.net/ubbthreads/imag...mlins/grin.gif

Re: Win yourself a 69 COPO Camaro!!
 

Holy crap! Bill congratulations!!!! Perfect time for me to bring over the DVD I borrowed from you.. https://www.yenko.net/ubbthreads/imag...ns/naughty.gif

Re: Win yourself a 69 COPO Camaro!!
 

WOW! Congrats...
That is wonderful... https://www.yenko.net/ubbthreads/imag...mlins/grin.gif