Jeep Offers

I live in iowa and won the car in a raffle.

I’m thinking of doing a fundraiser and selling raffle tickets for $100 each. The person that wins the car (say value of $40,000), what would be the tax liability? I live in Calif. Thx!

When a mall has a free giveaway and raffles a car for free…does the winner have to pay any taxes on it later on…and what about the car insurance is one required to have full coverage or simple liability?