Biggest winner in "The Price is Right"...a woman wins an R8 (but she has to pay a $61,000 tax bill)

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Apparently a woman (Sheree Hail, from Tacoma, Puget Sound area!) has won an Audi R8 Spyder - just by telling what are the incorrect prices of the car. "Process of elimination" - and there she goes, driving away a shiny, brand-new 2014 R8.

This was part of the show's "Best of 2013" year-end special, and earlier this year Drew Carey and the gang showed off really big prizes, such as dream cars like a Ferrari. And now the biggest winner in TPIR daytime history!

http://jalopnik.com/woman-wins-157-000-audi-r8-on-price-is-right-biggest-1491775167

Except now she has to face a $61,165 tax - because it's an expensive car? Hmm... It's not cheap after all... There's the California income tax (because TPIR is recorded in California), then federal taxes, and the Washington state sales tax...

http://mynorthwest.com/?sid=2423809&nid=11

What do you think?
 
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Hell, I'd pay the tax like a car payment and span it over however many years...helluva lot cheaper to pay that than to go out and buy a new one, and STILL have to pay tax on it...
 
This has actually screwed over Price is Right winners in the past, though not to this extent. It actually makes me wonder what happens when people win the truly awful cars that The Price is Right usually gives away (like base model Chevy Aveos and Nissan Versas and etc.) and have to pay tax on them.
 
Slashfan
Hell, I'd pay the tax like a car payment and span it over however many years...helluva lot cheaper to pay that than to go out and buy a new one, and STILL have to pay tax on it...
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For federal income tax, you have to apply for, and be granted, installment payment option. If not granted, the entire federal tax burden is due on April 15th. Individual states may or may not allow the tax burden to be split into multiple installments.

Either way though, she's pretty screwed.
 
Unless they have the means to pay the tax and insure it, I would trade it in/sell it A.S.A.P.

Tornado
This has actually screwed over Price is Right winners in the past, though not to this extent. It actually makes me wonder what happens when people win the truly awful cars that The Price is Right usually gives away (like base model Chevy Aveos and Nissan Versas and etc.) and have to pay tax on them.
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I remember some years back Oprah gave everyone in her audience a new Pontiac G6, most were outraged when they recieved a fat tax bill for it. (Although I imagine a Pontiac G6 tax is nothing compared to an Audi R8)
 
Aren't you given an option to keep it if you want it (or refuse to accept)?
 
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Might as well put the disclaimer: "You won a new car! You just have to pay $61,000 for it!"
 
R1600Turbo
She could flip it, pay the taxes, and still have some dough left over for a nice shopping spree.
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Does TPiR frown on that? I mean, many people probably don't know they have to pay taxes on anything they win on that show.
 
Blitz24
Does TPiR frown on that? I mean, many people probably don't know they have to pay taxes on anything they win on that show.
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Oh I'm sure they are well aware of people doing that. I read an article a few months ago about a lady that won a Mazda 2 on the show. Explained the whole process pretty good. Lemme see if I can find it...

Edit: Here we go. Not the same site, but the same article making the rounds.

http://www.dailyfinance.com/2013/08/15/what-happens-when-you-win-the-price-is-right/
 
This is perhaps my least favorite thing about the tax code...

In my area, prior to 2008, the local RV retailer would raffle off a massive Taj Mahal on wheels, and give the raffle proceeds to charity. Historically, I believe the winners sold the RV back to the dealer and were given the trade-in value of the RV in cash.

But really? It's a massive waste of time for everyone involved... At the minimum, TPiR should cover the cost of the tax OR fudge the paperwork some how...

"You could win an R8"
(Not really an R8, but we'll give you $150k. The tax on that will be about 50k, and then we have a signed agreement from Audi of Malibu which states they will sell it to you for the remaining 100k)

Obviously my numbers are off, but that COULD work. Maybe.
 
hawkeye122
This is perhaps my least favorite thing about the tax code...

In my area, prior to 2008, the local RV retailer would raffle off a massive Taj Mahal on wheels, and give the raffle proceeds to charity. Historically, I believe the winners sold the RV back to the dealer and were given the trade-in value of the RV in cash.

But really? It's a massive waste of time for everyone involved... At the minimum, TPiR should cover the cost of the tax OR fudge the paperwork some how...

"You could win an R8"
(Not really an R8, but we'll give you $150k. The tax on that will be about 50k, and then we have a signed agreement from Audi of Malibu which states they will sell it to you for the remaining 100k)

Obviously my numbers are off, but that COULD work. Maybe.
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Ha. What you're proposing actually makes some sense. Nothing concerning taxes is EVER allowed to make sense.
 

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