Don't forget about state income taxes, local property taxes where assessed,
and sales tax yup in most states...

I don't enter contests so it's not a problem... But for me, with the winning
of something being considered to be the last dollars earned for the year, it
is taxed at the top rate, add on property and sales tax, and it costs me
almost as much as if I went out and purchased it... Not worth it to me since
if I intended to purchase I would structure the deal to be for business and
create a tax reduction....
denny
"Ron Natalie" wrote in message Americans get taxed on
material prizes as well as cash?