I won DVSF IV Car selling 94 Corvette

[chucks]

Gents,
My ticket was pulled for DVSF IV drawing in June. HOW COOL. What a great Cobra Thanks ED & you all. Selling 1994 Corvette Coupe LT 1 Auto 33 K 3rd owner garaged Artic White/Red Leather $ 17 K
High option car great shape. The wheels in the picture do not go with the car. Selling this car to pay taxes on the Cobra. Chuck

[CobraDan]

Chuck,
I was in Ohio when your number was drawn and hope you will be able to attend this year’s event in June so everyone can meet the guy who won Ed’s Cobra, in person. There is no picture of your Vette in your post or your photo gallery, if you’re having trouble posting I’m sure someone will help.

Dan

[chucks]

Dan, Thanks I am having trouble posting a picture of the Vette.
I love cars big time owned Corvettes for the last 35 years, autocross, dragrace, & other car stuff. I also have a very nice 67 GTO.I do look forward to meeting you & the other Cobra folks.

[Robert T. Faust]

Chuck, (you lucky guy)
Just curious as to just what happens when one wins a car (everyone's dream) in a raffle?
I mean after you claim it and get in it and smile for the pictures. What next? Do you get to take the car and go? Or, are you required to pay a tax first? More than one type tax? Bottom line, lets say you just won a car, and donator/builder put a 100K price tag on the car. What would your out of pocket expenses come to in order to get this free car registered and in your name?
Thanks,

[chucks]

Robert,
Thanks. We are going thru the tax deal right now, its a bit painful. 1st the gambling tax is 25% of the prize, (you can't get around that) then the price of the car goes on to your income. Great ! We don't know yet but in my case between 14K & 16K may be more to win the Double Venom Cobra. It was worth it. So far.