Full Version: Equipment Raffle

From: LaZerDude (C_BURKE) [#24]
 14 Mar 2007
To: Doug (JDOUG5170) [#23] 14 Mar 2007

quote:
Now if Dee would just do the same with the camera......


Doug,
I'd sooner wrestle a rattlesnake than try and tackle Dee with that camera. ( insert laugh here)

From: Harvey only (HARVEY-ONLY) [#25]
 14 Mar 2007
To: Doug (JDOUG5170) [#23] 14 Mar 2007

Please do not hold your breath. She is still constantly reminding me about how excited she is. She now actually takes good pictures. I had gotten her a SLR through the lens camera because she was always cutting off heads. I figured that if she could see it framed she would know hat she was getting, wrong. I just gave up that she did not see the image except in her mind.

With this camera with the rear screen, all have been good so far. Just had to find the right unit I guess.

From: Cap'n Ron (RONSTROWGER) [#26]
 14 Mar 2007
To: ALL

Hello All,
I really enjoy the discussion you are having on this raffle concept. I may have a few answers for you. I am the person giving away the shop full of equipment. I felt that the engraving community would really enjoy and understand the value of this equipment. I thought about using ebay, but there is no real conection there with people understanding what could be done with this.

The raffle concept is the big hurdle, legal vs not legal, no definate answer here yet. I am in research and discussion, after a good talk with David today, with my accountant. I really hope to get a positive answer so that I may complete this project. The major problem will most likely be state to state issues.

There is a minimum amount of entries required, the reserve if you will.

The money will be held until the winner is announced and has received the equipment. The account will be a double signature withdraw account in my accountants name and most likely an official from my banking institute. This bank will also be the notary public for documentation needed.

The money will also be secure and 100% refundable, at no expense to the entrants, by bond if necissary should the minimum not be met.

My accountant or banking official will be responsible for choosing the winner. I will be notified after the winner is or by the winner. I like suprises too :).

There are many details to complete this project. This is the best place to start the whole thing. I do not need this stuff and just selling it seemed somewhat boring. So why not try something different. Anyway, were well on our way to doing the extremely outrageous.

From: Stunt Engraver (DGL) [#27]
 15 Mar 2007
To: Cap'n Ron (RONSTROWGER) [#26] 15 Mar 2007

Thank you Ron.

We look forward to hearing what you find, as to the legal aspect.

From: Cap'n Ron (RONSTROWGER) [#28]
 15 Mar 2007
To: Stunt Engraver (DGL) [#27] 15 Mar 2007

All,
There is a permit to file for the raffle within the state of Oregon for the ability to hold a raffle in a one year period. The real problem is the intrastate issue. Essay contests are alot easier to deal with, but some states that do not allow gambling make it manditory to allow free entries. A little unfair for this instance. Still have not had my final discussion with my accountant, but I will post as soon as I here something. Please throw ideas my way if there is something that has worked for any of you in the oranizations you may be associated with.
Thank you for your interest in this exciting venture.

From: sprinter [#29]
 15 Mar 2007
To: Cap'n Ron (RONSTROWGER) [#28] 20 Mar 2007

You also have a problem with State taxes. Most states treat any winnings as income for tax purpose. And then you have Federal taxes.....

I won a car in a raffle a couple of years ago and had to prepay the taxes before I could get title to the car. I had to pay almost $12k for a 26k car.

EDITED: 15 Mar 2007 by SPRINTER

From: Jer (DIAMOND) [#30]
 15 Mar 2007
To: Stunt Engraver (DGL) [#12] 15 Mar 2007

You may be the smartest guy I know.

From: Stunt Engraver (DGL) [#31]
 15 Mar 2007
To: Jer (DIAMOND) [#30] 15 Mar 2007

Jer,

I'm hoping you're wrong, but I do have some moments of clarity. :-)

From: RICK (THUMBSUP) [#32]
 17 Mar 2007
To: Stunt Engraver (DGL) [#31] 17 Mar 2007

David,sitting next to you at the Beach Party I didn't see the look of guilt on your face after you won.For that I am sorry,because I would have gladly taken the prize off your hands if I had known it was going to cause you such distress!And as for Harvey-it was a noble thing he did to return his own name to the bucket after drawing it.He was still rewarded with a poker chip for his nobility.I,on the other hand won absolutely NOTHING!So for those of you with feelings of guilt and despair,feel free to give me your fabulous prizes next year because I love to win and have no guilt complex whatsoever!(Insert good-natured laugh here).

From: Stunt Engraver (DGL) [#33]
 17 Mar 2007
To: RICK (THUMBSUP) [#32] 17 Mar 2007

Rick,

Forgive me for being so rude. The least I could have done is break the wood products basket up, into several door prizes.

That way, I wouldn't have had to carry 25 lbs. of wood back to my car. :-)

It was wonderful to see you and your wife at the party. 2008 promises to be the party to beat all. :-)

From: Ruben (QUIEROLEARN) [#34]
 17 Mar 2007
To: Stunt Engraver (DGL) [#33] 17 Mar 2007

David,

are you sure it was 25 lbs.? ...I think it was a little more

(devil)


Ruben

From: Stunt Engraver (DGL) [#35]
 17 Mar 2007
To: Ruben (QUIEROLEARN) [#34] 18 Mar 2007

Ruben,

I forgot that you carried the box for awhile. :-)

Whatever the box weighed, it was a very generous door prize.

From: LaZerDude (C_BURKE) [#36]
 18 Mar 2007
To: RICK (THUMBSUP) [#32] 19 Mar 2007

quote:
And as for Harvey-it was a noble thing he did to return his own name to the bucket after drawing it.He was still rewarded with a poker chip for his nobility.


Rick, you are correct.....but did you try getting that camera from Dee? I would soon swim with Pirhana. :D

From: Cap'n Ron (RONSTROWGER) [#37]
 20 Mar 2007
To: sprinter [#29] 20 Mar 2007

Sprinter,

Why does the government feel the need to re-tax what has already been taxed? All these issues sure put a kink in the fun. I am finding a ton of these issues for this raffle. It is begining to spiral out of control in all this government bureaucracy. No wonder the trade deficit and budget are in such a mess. Thank you for your reply.

EDITED: 20 Mar 2007 by DGL

From: Lisa (TROPHYUSA) [#38]
 20 Mar 2007
To: ALL

For all of you that are feeling bad about winning prizes, I would happily take them off your hands -- in the interest of making you feel better, of course!

From: Dee (DEENA-ONLY) [#39]
 20 Mar 2007
To: Lisa (TROPHYUSA) [#38] 20 Mar 2007

I'm not feeling bad about winning! :P

Dee

From: Lisa (TROPHYUSA) [#40]
 20 Mar 2007
To: Dee (DEENA-ONLY) [#39] 21 Mar 2007

Rats! I need a new camera!

From: UncleSteve [#41]
 20 Mar 2007
To: Stunt Engraver (DGL) [#40] 21 Mar 2007

David,

Here is a similar situation that was on the CBS news this morning:

http://www.winmyhouse.net/

It was done as a contest.........

From: sprinter [#42]
 20 Mar 2007
To: ALL

This is just part of the Federal Law on Taxes for Raffle Prizes

Federal Income Tax Withholding: Raffle Prizes

Individual raffle prizes have the potential to be $600 or greater. It is imperative that organizations holding raffles be aware of the federal income tax withholding requirements. The following was reviewed by the IRS on November 23, 2004.

If the prize amount is more than $5,000, the organization must obtain proper identification from the winner (as described above) and withhold 25% of the prize. If the organization is unable to obtain proper identification, they must withhold the higher "backup withholding.

Most states also have similiar taxes on Raffle Prizes. (when I won the car in a raffle, California tax rate was 33%)

Contest winners are subject to similiar taxes.

They all have their hand out to get their share.

EDITED: 20 Mar 2007 by SPRINTER

From: Cap'n Ron (RONSTROWGER) [#43]
 31 Mar 2007
To: sprinter [#42] 31 Mar 2007

It is turning into the give-me-more of my share with the government. Because I am not a non-profit business, raffle across state lines is taboo. Permits would have to be obtained in every state. It seems that there are too many that do not allow these activities. Then there is this taxes thing. I have already paid the taxes on this stuff. Sure seems I should be able to do what ever I want with it! Anyhow, I seem to be running out of options. Seemed fun at the get go.

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