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I'm just curious as to who got the prizes from the contest. Everyone here did an awesome job on helping the rest of us get the puzzles done and hope the hardest ones get the big rewards (of course i hope there's enough left for me to get a Zune ;) )

Also, some ick news, another one of us geeks got a trip to space, but Uncle Sam wouldn't let him go. :(

http://www.cnn.com/2007/TECH/space/01/28/f...e.ap/index.html

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Thus the $50,000 cash. [note - it says to defer the taxes :)]

I wonder, will the other prizes be tax'ed as well? :|

Yes it would actually. Unfortunately, without know the make and model, and thus the retail value of the equipment, we can't calculate the exact amount of taxes....Hopefully, the kids at 42E and Microsoft have done the math for us though.

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I'm just curious as to who got the prizes from the contest. Everyone here did an awesome job on helping the rest of us get the puzzles done and hope the hardest ones get the big rewards (of course i hope there's enough left for me to get a Zune ;) )

Also, some ick news, another one of us geeks got a trip to space, but Uncle Sam wouldn't let him go. :(

http://www.cnn.com/2007/TECH/space/01/28/f...e.ap/index.html

See thing is is that they are provididng a tax check to cover the cost. so lets say you have $200 000 dollar trip lets say the taxes on that is $40 000

they give you a check for $50 000 which is also taxable income but the taxes on that is $10 000 (lets say). So you get a free space flight..

cause $40 000(tax on flight) + $10 000(tax on check) - $50 000(check) = $0

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Quote from rocket plane's site

John Herrington, will pilot the winner on their trip to space. Commander Herrington was on hand today in Las Vegas at a spectacular multi-media show projected onto the Bellagio Hotel & Casino fountains as Microsoft and AMD confirmed online speculation about the game?s ultimate prize.

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I'm ballparking that taxes in total are gonna be about 46,000 dollars.

Space Flight- $250,000

Gaming System- $3,500

Zune- $250

XB360- $550

Lifecam- $80

3 Windows Games- $150

Tax Cash- $50,000

Total= $304,530

Tax (approx 15%)- $45,679.50

As far as the testing and everything goes, having worked in Aviation, I know that the FAA is going to probably have them create a certification process for approval, and from there flight testing and functional checks will have to be done. I definately can't see them allowing a civilian go up on a certification test. Typically the cert process runs around 3 years...so if they haven't started it yet, it could be at least 2010.

Plus, because of all the capital interest in space tours, I'm almost positive that both the NTSB and FAA are going to be coming up with some rules here in the very near future. Actually, February 6-7 there's going to be a FAA Space Transportation Conference... http://www.faa.gov/news/conferences_events...rcial_space/10/

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Actually, I think there is a formula that you can use to calculate tax offset awards. It follows the simple scenario of giving someone $10, then trying to find how much more to give them to cover a 10% tax. First time, it's $1, but then you have to run 10% on $10+$1=$11, and so forth until you see you need $11.12 (rounding up) to cover. If memory serves (and it bloody well may not) the formula is 1+ [x/(1-x)] where x is the tax rate (ie 10%=0.1). In the US, the maximum tax rate is 26% for private individuals (alternative minimum tax), so plugging that in and using the sum total from above posts I get: 1+[.26/.74]=1.351351....-->304,530*1.351351...=411,527.027...

So the total amount to cover a 26% tax rate is $411,527.03, meaning $106,997.03 covers the taxes with 1/3 penny left over, which Uncle Sam takes undeservedly because he rounds up. :| So $50,000 leaves, at worst, $56,997.03 to be covered by YOU, the prize winner. Lovely, no?

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Actually, I think there is a formula that you can use to calculate tax offset awards. It follows the simple scenario of giving someone $10, then trying to find how much more to give them to cover a 10% tax. First time, it's $1, but then you have to run 10% on $10+$1=$11, and so forth until you see you need $11.12 (rounding up) to cover. If memory serves (and it bloody well may not) the formula is 1+ [x/(1-x)] where x is the tax rate (ie 10%=0.1). In the US, the maximum tax rate is 26% for private individuals (alternative minimum tax), so plugging that in and using the sum total from above posts I get: 1+[.26/.74]=1.351351....-->304,530*1.351351...=411,527.027...

So the total amount to cover a 26% tax rate is $411,527.03, meaning $106,997.03 covers the taxes with 1/3 penny left over, which Uncle Sam takes undeservedly because he rounds up. :| So $50,000 leaves, at worst, $56,997.03 to be covered by YOU, the prize winner. Lovely, no?

Wow...and I thought these puzzles melted my brain... :blink:

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Oooook I'm seeing a lot of confusion here on the grand prize value.

4) PRIZES: One (1) Grand Prize: A trip to “the ultimate vista”, awarded as excursion on the Rocketplane XP Vehicle, a Windows Vista based AMD powered Dell desktop PC with TV Tuner and 24" widescreen monitor, a Microsoft Zune digital media player, a Microsoft Xbox 360 gaming console, three (3) Games for Windows game titles, a Microsoft LifeCam VX-6000 web cam, Microsoft Office Ultimate 2007 software and $50,000 cash, to be used to defray the cost of taxes, awarded as a check from the Sweepstakes Administrator. Total Approximate Retail Value (ARV) of Grand Prize: $253,500.

It's not $253,500 for the space flight plus the ARV of everything else + the check.

It's simply $253,500 ARV for the entire grand prize. Grand prize includes everything listed there. The flight, the games/software, gadgets, computer, $50k check, etc...

$253,500 is the number to figure the taxes on.

NOT $253,500 + $50k + ARV for the other stuff besides the check and flight value.

$253,500 is the TOTAL value.

Make sense?...

I don't understand how the trip gets taxed. I understand paying a tax on a gift over the 10,000 clam gift limit, but a trip? That is teh stink.

And yeah - I agree. I hate that the government taxes values of non-tangible goods that someone wins. But it does rock that the sponsors front that check to help cover them. I'm pretty sure it would be similar to a capital gains tax (roughtly 15%) but lets say it's 20%. The tax on the $253,500 value at 20% is $50,700.

Edited by The_Devil_Inside
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Make sense?...

And yeah - I agree. I hate that the government taxes values of non-tangible goods that someone wins. But it does rock that the sponsors front that check to help cover them. I'm pretty sure it would be similar to a capital gains tax (roughtly 15%) but lets say it's 20%. The tax on the $253,500 value at 20% is $50,700.

700 bucks I could do ^_^

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Grand Prize: The Grand Prize Winner will be selected from all eligible entries received in a random drawing to take place on January 31, 2007 at 10:00 a.m. (ET). The Grand Prize will be awarded and the potential Grand Prize winner will be notified by telephone between the hours of 9:00 a.m. and 5:00 p.m. (Potential Winner?s local time) on February 1, 2007 at the telephone number provided at time of entryThe Sponsor (or their authorized representative) will make two (2) attempts to reach the potential Grand Prize winner. If the potential Grand Prize winner cannot be reached or refuses the prize, that individual will be disqualified and an alternate winner will be selectedb>. The Sponsor will continue to make two (2) attempts to reach any alternate winner selected and will be notified by telephone between the hours of 9:00 a.m. and 5:00 p.m. (Potential Winner?s local time) on February 1, 2007 at the telephone number provided at time of entry until a Potential Winner is contacted and accepts the prize. The potential Grand Prize winner will be required to execute and return by fax and/or overnight delivery service an affidavit of eligibility/release of liability, and where legally permissible, a publicity release within twenty four (24) hours following receipt of same. Sponsors will provide overnight courier envelope to the potential Grand Prize winner to return the required documentation within twenty four (24) hours following receipt of same. Non-compliance with this time period may result in disqualification and selection of an alternate winner.

Better have your ringers turned on your phones, and dont go anywhere. How bad would that suck if your biggest dream is to go to space, you defy all odds and win first prize, then miss both calls because you the dog wanted a walk and later thought youd like to take a show:p. :p

The drawing is at 10am tomorrow btw.

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Better have your ringers turned on your phones, and dont go anywhere. How bad would that suck if your biggest dream is to go to space, you defy all odds and win first prize, then miss both calls because you the dog wanted a walk and later thought youd like to take a shower. :p

The drawing is at 10am tomorrow btw.

I registered my work cell phone. That baby is on me and turned on 24/7 :p

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Grand Prize: The Grand Prize Winner will be selected from all eligible entries received in a random drawing to take place on January 31, 2007 at 10:00 a.m. (ET). The Grand Prize will be awarded and the potential Grand Prize winner will be notified by telephone between the hours of 9:00 a.m. and 5:00 p.m. (Potential Winner’s local time) on February 1, 2007 at the telephone number provided at time of entry. The Sponsor (or their authorized representative) will make two (2) attempts to reach the potential Grand Prize winner. If the potential Grand Prize winner cannot be reached or refuses the prize, that individual will be disqualified and an alternate winner will be selected. The Sponsor will continue to make two (2) attempts to reach any alternate winner selected and will be notified by telephone between the hours of 9:00 a.m. and 5:00 p.m. (Potential Winner’s local time) on February 1, 2007 at the telephone number provided at time of entry until a Potential Winner is contacted and accepts the prize.

If the Grand prize winner is selected, lives in California, but isn't at home to answer the call:

first notification attempted after 0900 Pacific

second notification attempted at, say, 1000 Pacific

he isn't home, so he forfeits :(

Next an alternate Grand prize winner is selected, lives in Germany, waiting at home to answer the call:

first notification attempted at 1005 Pacific

it is already 1905 in Berlin, well after 5:00 pm local

he went out for dinner, so he forfeits :(

Isn't there a potential conflict here?

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If the Grand prize winner is selected, lives in California, but isn't at home to answer the call:

first notification attempted after 0900 Pacific

second notification attempted at, say, 1000 Pacific

he isn't home, so he forfeits :(

Next an alternate Grand prize winner is selected, lives in Germany, waiting at home to answer the call:

first notification attempted at 1005 Pacific

it is already 1905 in Berlin, well after 5:00 pm local

he went out for dinner, so he forfeits :(

Isn't there a potential conflict here?

This is actually the final game. Everyone still has a chance to win a trip to space until someone actually answers the phone. :laugh:

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If the Grand prize winner is selected, lives in California, but isn't at home to answer the call:

first notification attempted after 0900 Pacific

second notification attempted at, say, 1000 Pacific

he isn't home, so he forfeits :(

Next an alternate Grand prize winner is selected, lives in Germany, waiting at home to answer the call:

first notification attempted at 1005 Pacific

it is already 1905 in Berlin, well after 5:00 pm local

he went out for dinner, so he forfeits :(

Isn't there a potential conflict here?

I don't think they would go so far as to give two calls in an hour and say that's it. I would imagine that they would probably leave you a voicemail with a number to call. If you don't call it, you get another call from them, probably 24 hours later. And, if there's still no response in a given amount of time, they 'can you.

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So if you won the trip to space, would you accept the prize?

On one hand, it's a trip to space! I believe you would technically become an astronaut!

on the other... the ship hasn't been built/tested/proven safe... who knows if it will even work out. In the meantime you'd have to pay taxes on the prize now. $50k helps cover that, but the prize value is treated as income, so in the US you'd pay a progressive income tax on it, with most of the tax being in the 28% and 33% brackets (depending on your other income). That roughly puts the tax around $73,000, so you'd have to pay $23,000 out of your own pocket next April for a trip to space that you may not be able to take due to the fact that the ship hasn't been built/tested/proven safe...

ouch

Edited by gdesignr
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So if you won the trip to space, would you accept the prize?

On one hand, it's a trip to space! I believe you would technically become an astronaut!

on the other... the ship hasn't been built/tested/proven safe... who knows if it will even work out. In the meantime you'd have to pay taxes on the prize now. $50k helps cover that, but the prize value is treated as income, so in the US you'd pay a progressive income tax on it, with most of the tax being in the 28% and 33% brackets (depending on your other income). That roughly puts the tax around $73,000, so you'd have to pay $22,000 out of your own pocket next April for a trip to space that you may not be able to take due to the fact that the ship hasn't been built/tested/proven safe...

ouch

Don't worry! It'll be ready. Besides, they mightened have had the technology in the sixties to fake a moon landing but they sure have enough now to fake a trip to the outer atmosphere. So the winner would imagine he was up there and the rest of us all would too.

Much safer option as well.........

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Well....... I better get a note for classes, because if my phone goes off in class tomorrow, I AM ANSWERING IT! I'll just have Mom write a lie I MEAN NOTE to show to the teachers if the phone goes off. Yay! Only reason I was eligble for this contest is because she "signed me up", and I solved the puzzles with you guys.

As for the space trip, I don't need it, so I'd probably just ask for first prize. I'd like the $50,000 (minus tax, urgh) though! :D

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