Thread: Ranger RT188C Certificate

Chaunc, I agree, this is not right. The sponsor can get the credit for the package and all the advertisement, but dang, I'm sure the winner will have to pay taxes on a boat/package they don't need and stuck with it until they can sell it. There should be a 'cash' alternative' to the prize. Again, they will probably have to pay State and Federal taxes on the value with a 'Cash' payout, but they are not stuck with a boat they don't need to sell and probably need to pay taxes on immediately to 'own' and use the boat package, which again, they may not need or want.

Originally Posted by perchjerker108

Chaunc, I agree, this is not right. The sponsor can get the credit for the package and all the advertisement, but dang, I'm sure the winner will have to pay taxes on a boat/package they don't need and stuck with it until they can sell it. There should be a 'cash' alternative' to the prize. Again, they will probably have to pay State and Federal taxes on the value with a 'Cash' payout, but they are not stuck with a boat they don't need to sell and probably need to pay taxes on immediately to 'own' and use the boat package, which again, they may not need or want.

I just can’t see working so hard to win the tournament and then to have to deal with that prize. They should have that cash option. It must be okay tho. Guys are still fishing their circuit aren’t they?