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2022 Outback Premium Includes:
MSRP Value: $32,167
Winner must present a certified check currently estimated at $9,948.52 for income tax withholding, valid driver’s license, and proof of vehicle insurance card to the Friends of City Park office by the close of business July 15, 2022, to receive the prize.
Per the Internal Revenue Service and the official rules of entry, the winner must remit 25% of gambling winnings for federal income tax and 6% for state income tax to Friends of City Park. The fair market value of the vehicle awarded is $32,167. Therefore, the withholding income tax amount due to Friends of City Park, minus the $75 wager, is $9,948.52, based on current tax rates for income tax. The winner must remit payment, a W9 form, and a signed, completed W-2G form to Friends of City Park, no later than July 15, 2022. You may retain the W-2G Copy C and Copy B for your filings. In addition to the withholding income tax, sales tax will need to be paid out to the dealership, Bryan Subaru.