Kirkham Raffle tickets...

[Double Venom]

Jim,
You are not being argumentative. This raffle IS being held by CF a federally licensed and exempt 501-C3 licensed organization. The "Fling" is not holding the raffle, but only acting as a lawfull extension of CF.

If this raffle is illegal in the State of California, or in any other state then they, the residents of such states will be on their own and we wont be transporting the Cobra to those states with the intent of selling tickets!

As I mentioned earlier, I talked to CF today rather extensively about this. Enough so that I insisted not only a verbal, "OK", but a written "OK" from CF Corporate out of Boston.

Now, lets assume we can not sell tickets in California or some other states, what happens if a Californian, buys a ticket here at the Fling and wins?

Ha! I just realized this is exactly what happened last year! By proxy no less. The winner of the Daytona Cp. lives in California. A friend of his was here and bought the winning ticket that morning. (The friend is also a California resident)

In fact we're building that car for the winner as we speak. I'm serious...now what happens? He can't take it home to California?
He wont be able to register it? What are the consequences?

Quote:
"Costs of raffles, bingo, lottery, etc. You cannot deduct as a charitable contribution amounts you pay to buy raffle or lottery tickets or to play bingo or other games of chance. For information on how to report gambling winnings and losses, see Deductions Not Subject to the 2% Limit in Publication 529. "

Jim...the above applies, I believe, to NON-501-C3 licensed charity's. I am far from being a tax lawyer, so I can only pass on what they have told me. I do know that they hold numerous raffles all year, (none as neat as ours of course).

We had the same questons arise as you mentioned in Ohio when we tried to hold a raffle for our High School years ago. Short story, a 501-C3 license was applied for and granted and the raffle went on.

Your concerns are being addressed! As soon as I get confirmation from CF I will pass it on!

DV...where do I find the subarticle: 2% limit..publication?