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Old 07-30-2010, 10:17 AM   #57
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Awesome!! Congrats!
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Old 07-30-2010, 10:21 AM   #58
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That's freaking awesome!!!! Congrats!!! You'll love the car!!!
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Old 07-30-2010, 10:22 AM   #59
OrangeSS
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Crap! So i guess I didn't win...

But congrats to you!!!!
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Old 07-30-2010, 10:24 AM   #60
PQ
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Awesome Awesome.

You gotta stick around and be in the family now.
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Old 07-30-2010, 10:45 AM   #61
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Start your prep for the tax man now, because you aren't the only winner in this one. Uncle Sam will want his share too. Congrats and enjoy that bad boy.
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Old 07-30-2010, 10:50 AM   #62
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Quote:
Originally Posted by jrhaus76 View Post
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!
WOW! I like the way you think! Got CPA?! lol!
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Old 07-30-2010, 10:53 AM   #63
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they have payment options for taxes as well.
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Old 07-30-2010, 10:53 AM   #64
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CONGRATS!
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Old 07-30-2010, 10:55 AM   #65
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OUTSTANDING!! Congratulations! Welcome to the family!
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Old 07-30-2010, 12:17 PM   #66
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Way cool!! COngratulations Gary!
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Old 07-30-2010, 12:39 PM   #67
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How awesome is this?! Very cool, enjoy man!
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Old 07-30-2010, 01:40 PM   #68
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How cool... CONGRATS!!!
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Old 07-30-2010, 01:50 PM   #69
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Too cool, man! Congratulations!!!
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Old 07-30-2010, 02:14 PM   #70
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Congrats to a fellow NY'er!
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