Did anyone see the free wedding contest for Botanical Gardens?

janjan550

I saw this article and instantly thought "it was meant to be".  It is the venue my FH likes best, it is the month we want, and we have not made any deposits anywhere yet, or sent out STDs so we are still flexible.  Basically, they are giving away a wedding valued at $85K for 10-10-10. 

http://www.azcentral.com/community/phoenix/articles/2010/03/01/20100301dbgwedding0301.html

Then, the big "catch" occurred to me.  Whoever wins will have to pay the taxes on the $85K prize.  So, I don't think it is ideal for me, but I thought I would throw it out here.  If you are already planning on spending $25K or more on you wedding, this could be an awesome opportunity.  You have to agree to be on the news and do all their promotional stuff, so it's probably not for everyone, but could be a very one-of-a-kind wedding planning experience for someone. 

NillaWafer10

Wow 85k! I don't even know what I would do with that much money to spend on a wedding!

janjan550

That was my EXACT thought too.  I read the application and they have it all figured out already what you will get that adds up to a "retail value" of $85K.

FutureMrsL.R.Allen

Does it say somewhere that you are responsible for the tax?  I did not see that any where, but I did not read all the fine print.  Keep in mind that the tax on many of these services is not the same as sales tax at a bar or store.  For example, I just received a few of my final invoices, one has no tax on it and one has a tax for only a few dollars.  Also, there is no tax on the venue itself because the DBG is a non-profit organization, so the rental fees are not taxable. 

janjan550

I was talking about paying income tax on it, not the sales tax.  I think anytime you win a prize you have to include it on your tax return at the end of the year.  The applications says "The Sponsor will report the total value of each prize to the IRS and the Wedding Couple will be required to provide the Sponsor with a completed federal Form W-9 or equivalent. Each member of the Wedding Couple must provide their social security number to the Sponsor for tax reporting purposes, and are solely responsible for payment of all taxes incurred as a result of the award of a prize."  I didn't look into it too much, as far at what tax rate that would be at, maybe it's less that your normal income tax rate or something, but I did follow-up with my boss (I work for an accounting firm, and am a CPA myself, I just don't do taxes) and he said definitely yes, I would have to pay income tax on it.  I guess it might be worth looking into still, but I figured by the time we pay for all those taxes, and add a honeymoon on top of that, plus any other costs that aren't covered by the contest, we will have totally blown our budget.

kimheartsscott

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/local-wedding-boards_arizona-phoenix_did-anyone-see-wedding-contest-botanical-gardens?plckFindPostKey=Cat:Local%20Wedding%20BoardsForum:71Discussion:73e25c66-75b2-4921-b152-954450d0aff6Post:660156ec-8b30-4a7e-a568-4b3aa82430b9">Re: Did anyone see the free wedding contest for Botanical Gardens?</a>:
[QUOTE]Does it say somewhere that you are responsible for the tax?  I did not see that any where, but I did not read all the fine print.  Keep in mind that the tax on many of these services is not the same as sales tax at a bar or store.  For example, I just received a few of my final invoices, one has no tax on it and one has a tax for only a few dollars.  Also, there is no tax on the venue itself because the DBG is a non-profit organization, so the rental fees are not taxable. 
Posted by FutureMrsL.R.Allen[/QUOTE]

Prize tax, same as when you win the lotto.

NillaWafer10

This is probably going to be like the Oprah show where she gave away a car to everyone in the audience, but only about 1/3 could actually pay the taxes.  Uncle Sam sure does know how to ruin a gift haha

FutureMrsL.R.Allen

Oh, got it!  I didnt even think about the income tax!

alschmid

Wow - interesting to see the breakdown on all of the expenses though....

Tempting to apply for the why not case - but my first thought in looking at it - (our date is the 16th of October) was thinking that hopefully by then I would have my photog and DJ already booked...

Sounds like an awesome wedding though - not sure how the tax would play in but yes that would be painful!

LadyB64

My fiance and I also thought about applying, but after reading the fine print, you agree to let the public vote on everything regarding the wedding details: colors, flowers, food, music, even your gown!  And you can only have three attendants and invite a max of 125 people.  This was out of the question for us...I'm glad we didn't apply.  I'd like to plan my own wedding, not have the public vote on what I'll be wearing.