wco81 wrote:He should pay the taxes for it. A lot of times, people skip non-cash prizes because of the taxes involved.
Brady probably wouldn't have been interested in that truck, probably has a fleet of exotics.
Undrafted rookie may be able to use a new truck but he'd have to pay a chunk of taxes on it.
If Brady receives the prize and flat out gives it to him after that, Butler would owe no taxes. Brady would owe the tax. Receivers of gifts don't pay taxes, gifters are subject to a gift tax beyond an exclusion amount. Butler would have to register the car and pay whatever is associated with that.
But if the car is never received by Brady, as in refusal, I don't know if Butler can accept it and if he does, he may have the prize tax.
Yes, I'm not using real terms in prize tax, but you know what I mean.