Hi Guys,
I won that Viper in Vegas while I was just hanging waiting for the Sahara's Marketing Manager to try and get Sponsorship money for our Indycar team. Nickle Slot, playing 5 coins at a time. Funny....
Lots of misinformation here BTW.
No Tax due at the moment the vehicle was won. You simply add it in on your next years Tax return and the tax is based only on FMV at the time and it is paid when you file unless you happen to have any tax loss carry-forward.
Having an Indy car Team provides lots of Tax Loss - Ha ! ;-) So it was tax free !
FWIW, When you win a car in Vegas , they treat you like royalty. All expenses paid and also everything paid when you come back in month to pick it up to drive it home.
Long story but ask if you like. The Viper was sealed and all fluids drained when it goes on the carousel. After winning it they took it to the dodge dealer and spent over $5,000 replacing all the rubber and tires and put in all new fluids, new battery etc, etc Nope- No smoke smell !
Take care and hope this answers a couple questions.
Oh yeah... Kept it for 3 years for fun and then sold it to a nice gentleman in Michigan who was going to put it a car museum there... ( It also had a boat load of Movie memorabilia with it, script, cast info, autographs, etc , etc...)
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