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CPF RAFFLE CAR ANNOUNCED!
Posted by: corsacluboffice ()
Date: August 09, 2019 10:10AM

The Corvair Preservation Foundation is now selling raffle tickets for a nicely restored 1965 Corvair Monza Coupe. Proceeds to benefit the Corvair Museum in Decatur, Illinois.

You can buy the tickets online (or download a ticket purchase order form) here:
[www.corvair.org]

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Timothy Shortle ()
Date: August 09, 2019 10:33AM

ANNOUNCED!
I bought my tickets while at the convention. Looks like some lucky person will be getting a pretty nice ride for sure.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Paulsgt ()
Date: August 09, 2019 12:54PM

This is a southern US car. 140hp/PG. I am told it is a very smooth running car. Complete mechanical refurbishment completed by veteran Corvair mechanics.

Go ahead, toss $100 in there. It'll increase your odds and your funds go directly to the preservation of the Corvair!


Enjoy the Corvair!

Paul Sergeant
CORSA Central Division Director / CORSA Treasurer
Lee's Summit, MO
CORSA since 1975
Member – HACOA, Corvair Minnesota, CORSA, Little Indians, POCI




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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Wagon Master ()
Date: August 09, 2019 02:48PM

How does this work? Will you be paying taxes on the "Appraised" amount to the state the car is won in. Like was done on the 1969 Pittsburgh Convention Car?

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: MattNall ()
Date: August 09, 2019 03:25PM

[www.google.com]

MODERATOR
Sea Mountain, between Charleston Harbor and Coos Bay! SW Oregon Coast
Click HERE for My Website...Click HERE for My TechPages!
..............................110-PG.................................................Webered-Turbo




Edited 1 time(s). Last edit at 08/09/2019 09:04PM by MattNall.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Timothy Shortle ()
Date: August 09, 2019 04:24PM

I will be more than HAPPY to pay the tax if I win. If I don't win I am HAPPY CPF wins.

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Re: CPF RAFFLE CAR ANNOUNCED!
Date: August 09, 2019 07:27PM

The Raffle for the 1969 Corvair in Pittsburg (2018) was NOT a CORSA/CPF Raffle. It was organized by the Convention Chapter.
HERE are the Minnesota state rules regarding Raffles

I do NOT see any indication that Minnesota collects a tax on the winning ticket holder.
There may be other taxes due (Federal, Winner's State, etc) We need to post an appropriate Notice.

CORSA needs to make sure we comply with all the details set forth within that page above.


Dan Davis ~ Pierce County, WA ~ CORSA Western Director + Corvairs NW + North Cascades Corvairs + Corvanatics
1966 Corsa Turbo coupe ~ ~ 1966 140 Corsa ~ ~ 1965 Monza 140/4 'Vert Sierra Tan/Fawn ~ 1964 Monza 'Vert (SOLD) ~ 1960 Monza Ermine White/Red PG ++ ~ 1965 Monza 140/4 Evening Orchid w/ ivory/black interior ~ 1962 Monza Wagon 102/4 ~ 1963 Rampside/Scamper ~ 1963 Red/Greenbrier ~ 1969 Ultra Van #468



Edited 1 time(s). Last edit at 08/09/2019 07:30PM by 1966-Corsa-GT-180.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Two2brew ()
Date: August 10, 2019 02:19AM

Minnesota may not tax the winnings but the Feds do.
And if the winner lives in California they will collect taxes when he registers the vehicle.

Raffle prizes exceeding $5,000 are subject to 25% federal income tax withholding. The tax withholding amount is reported to the IRS on Form W-2G. If the organization fails to withhold the tax correctly before distributing the winnings, the organization is liable for the withholding tax.

Reporting Requirements and Federal Tax Withholding on Raffle Prizes
[www.tatetryon.com]

Lyle Whitsett
San Diego, CA
64 Monza convertible



Edited 3 time(s). Last edit at 08/10/2019 02:22AM by Two2brew.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: VairKing ()
Date: August 10, 2019 04:29AM

So if the car is worth $10,000, $2500 would be due to the feds? That could be a problem for many people, especially if the car is appraised at significantly more and even more tax is due.

_________________________________________
Ryan Counterman (Moderator)
1965 Corsa Kelmark V8 400 HP ///1965 Monza Sedan 110/PG /// Ultimate Corvair Hauler/// Don Eichstaedt's 1965 Corsa Racecar
West Michigan Corvair Club /// 1966 Corsa GTP Convertible Mid Engine 3.8L Supercharged project stalled

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Frank DuVal ()
Date: August 10, 2019 09:01AM

OK, Museum is in Illinois, tax data supplied in link is from Minnesota. What is the connection?

Winner needs an appraiser familiar with historically low prices of Corvairs! Winner should not accept appraised value from organization* holding the raffle (unless it is the "best" one...).


* unless the organization is in the business of car appraisals, like a member of I-Van.

Frank DuVal

Fredericksburg, VA



Edited 1 time(s). Last edit at 08/10/2019 09:02AM by Frank DuVal.

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Re: CPF RAFFLE CAR ANNOUNCED!
Date: August 10, 2019 11:06AM

Frank DuVal Wrote:
-------------------------------------------------------
> OK, Museum is in Illinois, tax data supplied in link is from Minnesota. What is the connection?
...

The CPF & CORSA are now legally sited in Maple Plain, Minnesota. Our Executive Secretary office is staffed by Paul & Ramona Bergstrom. (630)403-5010

The Corvair Museum is inside the Chevrolet Hall of Fame Museum in Decatur, IL where CPF has 9000+ sq. ft. of display area for our Corvairs and related Memoribilia. (217)791-5793

Not sure who TateTryon is, but I do know who the IRS is!

HERE is what they have to say on Raffle Prize taxes


Dan Davis ~ Pierce County, WA ~ CORSA Western Director + Corvairs NW + North Cascades Corvairs + Corvanatics
1966 Corsa Turbo coupe ~ ~ 1966 140 Corsa ~ ~ 1965 Monza 140/4 'Vert Sierra Tan/Fawn ~ 1964 Monza 'Vert (SOLD) ~ 1960 Monza Ermine White/Red PG ++ ~ 1965 Monza 140/4 Evening Orchid w/ ivory/black interior ~ 1962 Monza Wagon 102/4 ~ 1963 Rampside/Scamper ~ 1963 Red/Greenbrier ~ 1969 Ultra Van #468

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: VairLess ()
Date: August 10, 2019 11:38AM

Is this open to Canada residents? Although shipping plus state lottery taxes might bring cost close to the estimated value.

Scott Farnell
Calgary, Alberta

65 Monza (Corsa Clone)

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Harry Moore ()
Date: August 10, 2019 05:45PM

Is anyone else having problems with the online purchasing process on the CORSA website?

After I filled out my name and address, the next screen confirmed it, but does nothing. The back arrow throws the following error:

Then the check out process fails...I double checked my credit card information was correct. I am using chrome 76.0.3809.100


Harry Moore
66 Monza Sedan 140/PG
Southern California



Edited 1 time(s). Last edit at 08/10/2019 05:45PM by Harry Moore.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Vairismo ()
Date: August 11, 2019 10:27PM

Lots of potential complications going on in this deal. Ahh the good ol' days when things were simpler and also cheaper, eh? Are the number of tickets fixed or open ended?
If well publicized, this raffle may attract some non Corvair crowd people. Not saying whether that is fundamentally a good or bad thing, just sayin'.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: Allan Lacki ()
Date: August 13, 2019 02:16PM

1. Anybody can purchase raffle tickets, no matter where you live.
2. The price is in US dollars. If your local currency is different, your credit card company will make the reconciliation.
3. The number of tickets is open-ended.
4. If you're having trouble with payment on the website, you can print-out the hardcopy ticket purchase form and mail it in with a check. Here's a link to the form:

[www.corvair.org]

Or if you prefer, call Paul & Mona Bergstrom at the CORSA National Office. (630) 403-5010

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: corsacluboffice ()
Date: August 13, 2019 02:55PM

Yes, it is open to Canadian residents, $10 US funds for each ticket

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: jcorvair ()
Date: August 13, 2019 03:06PM

I bought tickets at the convention. If I win it I'll export it before the IRS even knows what happenedspinning smiley sticking its tongue out

James
West Kelowna, BC

1965 Corvair, Corsa, Convertible 180/4 - Artesian Turquoise w/ white interior
1966 Corvair Corsa Coupe, 140/4 - Aztec Bronze w/ black interior
2013 Hyundai Santa Fe Turbo
2016 Dodge 3500 Crew Cab 4x4 (for hauling cars, trailers, fifth wheels, quads, etc.)
2013 Victory Car Hauler (enclosed)
2019 Express Car Hauler (Aluminum, Enclosed)
2015 Polaris 570 EPS
2016 Polaris 570 SP
2017 Corvette Z06 Convertible

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: mrhvair ()
Date: August 13, 2019 03:07PM

The winner of this car will be responsible for pickup from the corvair museum in Decatur Illinois, and will be responsible for all taxes and registration fees. The car has a clean Illinois title in the name of the CPF, and can be processed in any state the winner titles it in.

We do not at this time have an appraisal for the value of the car, only the receipts we spent to restore it. The Monza has a stated value for insurance just like any of your cars.

NO where will you ever get a fully functioning auto for the price of a ten dollar ticket. So shop now, and often.

All of the funds collected go to keeping the Corvair Museum open, without donations we will be out of business, and the corvair Museum will be in the HISTORY BOOKS!



Edited 1 time(s). Last edit at 08/13/2019 07:15PM by MattNall.

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Re: CPF RAFFLE CAR ANNOUNCED!
Posted by: john.jackson ()
Date: August 13, 2019 07:47PM

Wagon Master Wrote:
-------------------------------------------------------
> How does this work? Will you be paying taxes on the "Appraised" amount to the state the car is won in. Like was done on the 1969 Pittsburgh Convention Car?


Understood the Pittsburgh raffle winner took the $6k in cash, rather than the car. So he had cash income to report?

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