[BlessingInDisguise]

Nowadays they apply a massive amount of taxes when you win ANYTHING. I don't think it's just sales taxes. You know when those publisher's clearing house winners win $100 million they've really only won about $40 million after taxes.

[justlurking]

You know when those publisher's clearing house winners win $100 million they've really only won about $40 million after taxes.

Depends on where you live. The top federal income tax rate is 38.6% now, although some income around the 300K range (if you are single) is effectively taxed at a slightly higher rate due to phasing out of deductions.

If you are fortunate to live in a state with no income tax (like Texas), you are looking at a maximum bite of about 40%.

[BansheeBill]

Nowadays they apply a massive amount of taxes when you win ANYTHING

I heard a radio interview with the producer of "The Price Is Right" TV show. I believe he said about half the people cannot afford to pay the taxes if they win a car on the show, and while some already own nice enough cars that they can sell to pay the taxes so that they can keep the new car they "won", many have to immediately sell the car to pay the taxes, though he says they try to get the dealers who supply the cars (they get the cars through a dealer near the winners home) to try to work out any resales of the car for the winner so they (the winners) don't get "worked over" too much on the deal.