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Re: Won BMW in Business Contest - Help w/Tax Issue (archive)

[ Follow Ups ] [ 5-series (E34) Message Board ] [ Msg. Board FAQ ]

Posted by Gordon on November 22, 2000 at 23:08:07:

In Reply to: Won BMW in Business Contest - Help w/Tax Issues posted by (kinda long) - Theo on November 22, 2000 at 22:30:19:

If they give you a lump sum then it will be "income" which would be taxable...

Am not sure on the "company car policy" in the U.S., but over here we get stuck with it being "income" as well... am sure its a bit easier over there.

Not an accountant... would probably worth a call to the Income Tax people.

There again... if you took the lump sum, you could buy another '89 E34



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