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In all likelihood you will have to pay the sales tax on the item plus declare the value of the winnings on your state and federal income tax returns for that year. The higher your income, the higher your tax bracket.
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What if you cant go on a trip you win on price is right?
If you can't take the trip or don't want to pay the taxes for it, you can forfeit the trip after winning it.
What happens when you do not want a prize on The Price Is Right?
You're allowed to forfeit any prizes that you win after your show tapes. If you do so, you simply won't receive the prize, and in turn, won't have to pay taxes for it.
What is the top prize in the Pay the Rent game on the Price is Right?
$100,000
If you win a Car or two on the price is right do you have to pay the taxes before you leave?
Cars need to be licensed registered and insured in most cases before they can be driven. There are both federal and state income and state sales taxes that must be determined on any large winnings. That may be why the Wheel of Fortune now includes $5,000 cash when you win a car on the bonus spin
Do you pay tax on who wants to be a millionaire?
Yes, you pay taxes on your winnings. U.S. law requires people to pay taxes on anything deemed as a prize that is valued over $600.
Do you pay sales tax in Michigan on purchase price of used car or the MSRP?
You would pay the taxes on the actual price you paid for the car. If it was 10000 then you would pay the taxes on that not the list price. Hope this helps
What is meant by exclusive of all taxes?
It means that you will have to pay additional taxes, which are not written in the price.
What kind of state taxes do you have to pay when buying a car in ca?
7.52% of the total sale. If the purchase price was $20,000, the tax would be $1,502.00.
Do you pay taxes on a car you buy right before the end of the year?
You have to pay the tax to dmv when you register no matter what time of year purchase made based on purchase price.
What if you cant go on a trip you win on price is right?
If you can't take the trip or don't want to pay the taxes for it, you can forfeit the trip after winning it.
In the state of IL you are buying a ATV and the owner has the original bill of sale with no lien but never titled it to avoid taxes If you title it to you pay taxes on the original price or the price?
You pay the original new price tax. I callled the DMV.
When receiving a car as a gift do you need to pay taxes?
You will pay some kind of tax.
What is the market price of imageJ software?
$0. Because taxes already pay for it.
Who said that taxes are the price we pay for a civilized society?
oliver wendell Holmes
Do you pay taxes on a used car?
In some states you do-based on purchase price.
What kind of taxes are likely to pay for universities and police?
Property taxes are likely to pay for police and universities. Property taxes are used to pay for schools and other types of community services, such as the police and fire department.
What is meant by inclusive of all Taxes?
The posted (asking) price includes all taxes ... so the price you see is what you pay, nothing added, nothing more or less.
