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CONTEST RULES FOR 2006 DREAM CAR RAFFLEThank you for your interest in the Bixby Chamber of Commerce 2006 Dream Car Raffle. By entering the 2006 raffle, you are stating that you have read the raffle rules and understand them. If you do have any questions about the rules below, please contact us and we will do our best to answer all of your questions.
The Bixby Chamber of Commerce wishes you good luck in 2006!
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ELIGIBILITY You must be 21 years or older to purchase a raffle entry. Online one (1) individual may be identified as the purchaser (or buyer) of the raffle entry. Purchasers of raffle tickets must qualify under Oklahoma Law. All federal, state and local laws and regulations apply. Entries may be purchased via the Internet, mail or at the Chamber office or other ticket sales events as scheduled. Ticket confirmation number(s) will be emailed to Internet purchasers upon order. Raffle tickets are non-transferable and non-refundable; all tickets sales are final. The following individuals and their immediate family members residing in the same household are not eligible to participate in this raffle: a) Chamber Board members b) Chamber Staff c) Dream Car Raffle Committee Members.
INTERNET PURCHASES Bixby Chamber of Commerce and its agents, Board, volunteers, partners, employees or members assume no liability for lost, late, misdirected, mutilated, illegible, undelivered entries. Entries without proper payment received will be deemed invalid and shall be immediately disqualified.
DRAWINGS The Grand Prize Draw Date is Friday, September 22 at 5:00 p.m. (CST). Tickets can be purchased until 12:00 p.m. (CST) September 22, 2006. All purchases of entries are non-refundable. In this raffle, there is no possibility of a tie. All references to time apply to Central Standard time only.
ODDS
GRAND PRIZE
CONTINGENCY
NOTIFICATION OF WINNERS If selected winning entrant is unable to be contacted or located after a period of six (6) months from the draw date, the prize will be donated to the Bixby Chamber of Commerce. Three (3) attempts will be made to contact the winning entrant via Registered Mail at the address provided by the entry purchaser.
TAXES AND IRS RULES Winner will be required to pay a withholding percentage (29%) of the fair market value of the vehicle or cash prize prior to taking possession of the prize, to comply with IRS for Federal and State with holding requirements. If winner opts for cash, payment to winner will be paid net of applicable taxes. This is to comply with the IRS ruling that requires that tax withholding on prizes of $5000 or greater must be paid upon award and distribution by the organization hosting the raffle. The value of your winnings is considered taxable income. Please consult your financial advisor to discuss any impact on your personal taxable income. The IRS has taken the position that amounts paid for chances to participate in lotteries, raffles, or similar programs are not gifts and therefore, the price of entry does not qualify as a deductible charitable contribution. Government rules regarding withholding can change without notice. The Bixby Dream Car Raffle will follow IRS rules in effect at the time the prizes are awarded.
WAIVER/LIMITATIONS OF LIABILITY
RELEASE
INTERNET Net Proceeds will benefit the services and programs offered by the Bixby Chamber of Commerce. The Bixby Chamber of Commerce is a 501( c ) 6 tax-exempt organization. Always consult your tax advisor. |
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