stellablue
DIS Veteran
- Joined
- Oct 14, 2007
Anyone on here won this? Or anyone know of any links to articles of people who did?
Is this a lifetime membership with no fees or taxes??
Is this a lifetime membership with no fees or taxes??
Wow, I didn't realize that was a prize. What a great prize. As far as the taxes go, I would be pretty sure you have to pay for them on your own. I won a T.V. one year (not from Disney) and they reported it to the government, at tax time I got the form in the mail with the value that was reported, as if it were income.
DVC can always be saved up for. The night at the castle is a once in a lifetime!!
Wow I didnt know you could win stuff at DTD!
It sounds amazing and I would be sooo happy to win this, but if I had my choice, I think I'd still choose a night at the castle.
DVC can always be saved up for. The night at the castle is a once in a lifetime!!
It's all a matter of perspective. I live literally next door to Disney World, so 50 trips isn't as exciting to me when I can just grab my AP and jump in the car anytime. But the castle is not something I can do at will!Are you nuts?
50 years of trips FOR FREE, or one night in the castle?
C'mon now.
I doubt that they pay the income taxes. When they say that the taxes are included, it could just mean the normal taxes you would pay each time you visit and stay using the DVC. Income taxes on prizes is something that I'm not sure you could win. I know someone who won a lot of prizes on a game show, and she sold half of them on the spot back to the show to cover the taxes on all of it.
Approximate retail value ("ARV") of each Grand Prize: US $83,701, which includes (i) the conveyance of a real estate interest in Disney's Saratoga Springs Resort & Spa or other Disney Vacation Club Resort chosen by Sponsor represented by 220 vacation points at the current membership price of US$22,220; and (ii) the payment of all annual dues (excluding any special assessments) during the time that the winner owns the real estate interest, which has an estimated value of US$35,559 (based upon the 2006 annual dues of US$3.98 per Vacation Point, escalated at 5% per year and discounted at 5.6%, the current Applicable Federal Rate, over 48 years); and (iii) any exchange fees incurred by the winner during the time that the winner owns the real estate interest, in exchanging, from time to time, the winner's vacation points for other vacation destinations, which has an estimated value of US$812 (assuming the winner exchanges vacation points every three years and a current exchange fee of US$95 escalated at 2.43% per year and discounted at 5.6%, the current Applicable Federal Rate, over 48 years); and (iv) a cash prize equal to US$25,110 to help defray payment of taxes payable as a result of winning the prize. Sponsor makes no representation or warranty that the cash portion of this prize will be sufficient to pay winner's tax liability.
Disney isn't going to write a check to IRS for you, but the description of each of the major prizes (travel, DVC) includes a specified cash payment that the winner can apply towards taxes. Of course, the winner can do whatever he/she wants to do with the money!
Here's the description of the 2007 DVC prize: