WELCOME AND CONGRATS!!! Jeg's is top notch. I have used them for parts on my 67... being so close, I like dealing local. I am pretty close to Jeg's and Summit!
Anyhow, enjoy that car... we are all jelous!
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Originally Posted by sterlingnotes
I wish I had won my Camaro... I've bought so many raffle tickets and entered so many contests... drank so many Dr Peppers... at long last, even though I didn't win one... the car payment is still worth it!
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Originally Posted by Bumble_Bee
That's awesome! Just curious, do you have to pay all the taxes on it?
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In most states you pay it on your income tax. For example (and this varies by state)... Say the MSRP was $35,000. He does not have to pay sales tax... he didn't buy it. BUT he would need to claim the $35,000 as income on his 2010 federal and state taxes.... So the amount of tax varies. If he makes $200,000 a year, a bump to $235,000 wouldnt change is tax liability as much as if he makes $40,000 a year, now all of a sudden in 2010 he makes $75,000... in the end he will pay about 15-20% in taxes. Not too bad, $5200-$7000 for a new 2SS/RS! If he can't afford or doesnt want to pay it, he can sell it, still pay the taxes and then pocket the profit. If it were me since I don't have a free $7000 lying around, I'd just sell the car to my wife for $15,000, have a small payment, pay the the taxes and use the rest for mods... you'd still be WAY ahead!