For $40, Monty Tech grad wins car in raffle - Sentinel & Enterp...

Ryan M. Capone of Ashby, a recent graduate of Montachusett Regional Vocational Technical School, got a special graduation gift he wasn't counting on.

[Pete]

hmmmm 12k @ 40%........ Hope this young man can do math, that's quite a hefty tax he owes to the state...

[mel]

no kidding! and excise tax...

[gone from fitchburg]

Enjoy and please drive safely

[Nick Reynolds]

where are you gettin 40 percent, wouldnt it be the typical 5? or is it more because it was a gift? I dunnno

[Nick Reynolds]

Won, excuse me, not a gift.

[Artie Langs sweatpants]

Unless the kid's got a full-boat scholarship to Salem State I say turn around, sell the car and put the money into your college bills.

[Pete]

Nope it's actually 39.5% you must pay in taxes in mass if you win something now..... Its a rip off, I mean this poor kid has a good thing happen, now he has to turn around and pay MASS for his winnings. THEN if he wants to register it, and someone else mentioned the excise tax. If it's valued at a slightly higher value, the insurance will be higher.. I say insure it to the max and then dump it in the Milford quarries and collect on the insurance...

[Concerned Citizen]

Once again people are looking at the negative! I am sure he and his parents will figure it all out. People should be congratulating him and stop to realize that he is going to school to work with children so we should be supportive of him. He may be teaching our future president someday!!!

[Just Wondering]

Pete wrote:

Nope it's actually 39.5% you must pay in taxes in mass if you win something now..... Its a rip off, I mean this poor kid has a good thing happen, now he has to turn around and pay MASS for his winnings. THEN if he wants to register it, and someone else mentioned the excise tax. If it's valued at a slightly higher value, the insurance will be higher.. I say insure it to the max and then dump it in the Milford quarries and collect on the insurance...

Stop feeling sorry for the kid that won the new car....sure he has to pay taxes on it, but to own a new car with a minimal cost? He only has to pay income taxes on the 39.5%...so if he doesn't have a job now, he probably wont pay anything, as even if the car is worth $20,000 he would pay taxes on it at 39.5% or $7900...Look up an income of $7900 on the IRS.gov website and figure out what he needs to pax taxes on....prob in a 15% tax bracket and he will pay $1185...excise tax of $350 or so, and insurance another $1200...not bad with a total cost of $1535 and $1200/year for insurance...freakin liberals need to stop feeling bad for everyone

[Fed Up]

Sounds like a little envy here guys. What the heck, I wouldn't mind that happening to me, all the little fees aren't too bad when you add it all up. You won't find a decent car anywhere around here for that kind of money.

[auntie]

They fixed the body but it still has 100,000 miles on it. Did they rebuild the engine too?

[JIm]

He probably buys lottery tickets too, if he could afford to pay $40. for one raffle ticket, the lottery is going to love him