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Gemini · 12-08-2002, 12:24 PM

"Gift" prizes = taxes out of pocket to stay legal with the government

So if you are lucky, you might only have to pay 40% (I think it is) of the cash value in tax. Unlucky = 60%

"Cash" prizes = you have the cash (and hopefully the brains to bank enough from the prize to cover the taxes)

12-08-2002, 12:24 PM
Gemini Confirmed User Join Date: Jan 2001 Location: o-HI-o Posts: 7,183	"Gift" prizes = taxes out of pocket to stay legal with the government So if you are lucky, you might only have to pay 40% (I think it is) of the cash value in tax. Unlucky = 60% "Cash" prizes = you have the cash (and hopefully the brains to bank enough from the prize to cover the taxes)