The tax on the car depends on his current tax bracket. He will have to pay a tax on the fair market value of the car. I am sure he has a good accountant that puts him in a low tax bracket.
He is more talking about having to pay sales tax on the Vette. I think he also has to claim it as a prize won, which means 25% off the top, so about 9k because of prize won + sales tax
04-11-2008, 08:51 AM
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