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100k in taxes? Isn't that a little much? Wouldn't 100k be a large portion of the sticker on one of those? Doesn't seem quite right to say the tax on it is that much


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That's about right... Prizes over 10k are taxed at 50% I believe... You end up paying 2/3 of lottery winnings to the Govt.
 

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I believe it has something to do with a "Prize" tax, as well as counting it against your income. So it bumps you up into a higher tax bracket, and then you get whacked on the value of the car.
 

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What the fuck is the point of giving expensive cars to people of moderate means? No normal person just has $100k lying around to pay taxes on a Lambo. So stupid. That said, I don't think we would wreck it on purpose, especially as it doesnt sound like the car was destroyed and would be fixable. He should be able to find a buyer one way or another if he's willing to drop the price quite a bit.
 

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Its still heavy income either way.. Nobody would crash it and risk killing themselves as a father of 6

You could sell it for half of what it's worth, pay the taxes, and pay off a good chunk of your mortgage at that rate.
 
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