M5 Raffle....
06-23-2005 | 04:45 PM
#31
Thread Starter
Members
Joined: Feb 2005
Posts: 248
Likes: 0
From: Miami, FL (545i: CIP 16.2)
of course.... you have to pay tax on any winnings like this...... probably around 27%..... so you'll get an M5 for around 22k..... not bad.... 
Originally Posted by my530i' date='Jun 23 2005, 07:08 PM
Guys, please read the fine print. You have to pay federal tax after you get the money. Which means that you only get the 545/550i after tax and dump in some more money for the M5.
But anyhew, I joined the raffle, too. What the heck for $125. You never know. Good luck....to me.
But anyhew, I joined the raffle, too. What the heck for $125. You never know. Good luck....to me.
[snapback]142574[/snapback]
06-23-2005 | 08:04 PM
#32
Contributors
Joined: Oct 2004
Posts: 14,776
Likes: 0
From: So Cal, USA
My Ride: 545iSMGSilver GrayAuburn Dakota LeatherLogic 7 Premium SoundSports Package
Originally Posted by my530i' date='Jun 23 2005, 05:08 PM
Guys, please read the fine print. You have to pay federal tax after you get the money. Which means that you only get the 545/550i after tax and dump in some more money for the M5.
But anyhew, I joined the raffle, too. What the heck for $125. You never know. Good luck....to me.
But anyhew, I joined the raffle, too. What the heck for $125. You never know. Good luck....to me.
[snapback]142574[/snapback]
Well ya of course! GIMME MY M5 already! I'm ready to pay my taxes!
06-28-2005 | 09:56 AM
#34
Contributors
Joined: Nov 2004
Posts: 2,460
Likes: 0
From: NYC & LI
Originally Posted by kscarrol' date='Jun 28 2005, 12:11 PM
Got my winning ticket in the mail yesterday!? Where do I send the check for the taxes? 
[snapback]143802[/snapback]
...OH, just forward the winning ticket AND your tax check made out to 'cash' to ....ME
06-28-2005 | 12:59 PM
#35
Contributors
Joined: Aug 2004
Posts: 4,979
Likes: 1
From: SJC/CA/US
Originally Posted by m630' date='Jun 28 2005, 11:56 AM
[quote name='kscarrol' date='Jun 28 2005, 12:11 PM']Got my winning ticket in the mail yesterday!? Where do I send the check for the taxes?
[snapback]143802[/snapback]
...OH, just forward the winning ticket AND your tax check made out to 'cash' to ....ME
[snapback]143815[/snapback]
[/quote]It's only illegal to transfer winning price between eastern state, so please send it to me
J/K
06-28-2005 | 06:15 PM
#36
Contributors
Joined: Oct 2004
Posts: 14,776
Likes: 0
From: So Cal, USA
My Ride: 545iSMGSilver GrayAuburn Dakota LeatherLogic 7 Premium SoundSports Package
Originally Posted by kscarrol' date='Jun 28 2005, 10:11 AM
Got my winning ticket in the mail yesterday!? Where do I send the check for the taxes?
[snapback]143802[/snapback]
They must be giving away A LOT of M5s this year...
Oh and taxes goes to me... dont worry about the two clowns trying to scam your money up there. ^^^
06-28-2005 | 07:01 PM
#37
Contributors
Joined: Aug 2004
Posts: 1,717
Likes: 0
From: Central Massachusetts
My Ride: Now Driving a Freakin' Prius!
Was...
2004 545i | SMG | White/Black | Sport | NAV | Logic 7 | PDC | Fold-down Seats | Adaptive Headlights | Cold Weather Pkg | Clear-again Bra | Mud Flaps | Bluetooth | Coat Hangar | Aux Input | All Weather Mats | 18"X8.5" BBS RK w/ Michelin Pilot Alpin's (winter) | New steering rack @ 1.2K & 17K miles| Software V.19.1 | B&B Exhaust (vrrrroooooommm!) <---Click.
Originally Posted by FikseGTS' date='Jun 23 2005, 08:45 PM
of course.... you have to pay tax on any winnings like this......? probably around 27%.....? so you'll get an M5 for around 22k..... not bad....?
[quote name='my530i' date='Jun 23 2005, 07:08 PM']Guys, please read the fine print. You have to pay federal tax after you get the money. Which means that you only get the 545/550i after tax and dump in some more money for the M5.
But anyhew, I joined the raffle, too. What the heck for $125. You never know. Good luck....to me.
[quote name='my530i' date='Jun 23 2005, 07:08 PM']Guys, please read the fine print. You have to pay federal tax after you get the money. Which means that you only get the 545/550i after tax and dump in some more money for the M5.
But anyhew, I joined the raffle, too. What the heck for $125. You never know. Good luck....to me.
[snapback]142574[/snapback]
[snapback]142582[/snapback]
[/quote]I have my 5 tickets already sent in. I've spent $125 on far more stupid things than this.
As for the taxes, a friend of mine won a 2001 Cobra R a few years back. Car was worth around $60K. He had to pony up close to $23K (gotta love Massachusetts in addition to the Fed). My comment to him was "That's a lot of money for a Mustang, isn't it?" referring to the $23K.
Goes to show you, people do win these things occasionally - and the Taxman do cometh!
06-29-2005 | 04:18 PM
#39
Contributors
Joined: Mar 2004
Posts: 4,672
Likes: 0
From: New Orleans, LA USA
My Ride: E90 M3
Model Year: 2011
Originally Posted by jet190rs' date='Jun 29 2005, 01:46 PM
The key question is, how is BMWCCA gonna get all the M5s to give away?
Can they skip the 2 year waiting list at dealers?
Can they skip the 2 year waiting list at dealers?
[snapback]144265[/snapback]
06-30-2005 | 10:14 AM
#40
Senior Members
Joined: Sep 2004
Posts: 2,074
Likes: 0
From: New York, NY
My Ride: '05 545i - scheduled for ED pickup in Munich on 7/22!
Originally Posted by kscarrol' date='Jun 29 2005, 06:18 PM
[quote name='jet190rs' date='Jun 29 2005, 01:46 PM']The key question is, how is BMWCCA gonna get all the M5s to give away?
Can they skip the 2 year waiting list at dealers?
Can they skip the 2 year waiting list at dealers?
[snapback]144265[/snapback]
[snapback]144383[/snapback]
[/quote]So in all likelyhood, none of the winners are gonna get an M5...
