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24.11.07 0939
The 7 - Movies & TV - Tax My Ride
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Battlezone
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#1 Posted on 6.1.05 1107.52
Reposted on: 6.1.12 1122.19
So, I'm watching "Pimp My Ride" over the weekend with my roommate, and after the job was finished, they mentioned that they had put over $20,000 worth of customization in the car. Which prompted the question from me:

These kids gotta pay taxes on that, right? I mean, isn't PMR *technically* a contest? And in the fine print, contests always mention that taxes are the reponsibility of the winner. Furthermore, since the car has increased in value, won't they have to pay taxes on THAT, too? It seems unfortunate, because none of these kids would have the cash to take that kind of a hit.

We couldn't figure it out, and someone here ALWAYS has an answer for obscure questions like this, so I thought I'd put it out there. Anybody know?
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Von Maestro
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#2 Posted on 6.1.05 1227.11
Reposted on: 6.1.12 1228.41
Since they own the car already & everything done to the car is after-market, I imagine that MTV pays the sales tax on the items needed to Pimp the various Rides.

For example, if you buy an XM Radio for your car, you do not add the tax value of the radio to your car as a whole, you pay tax on the radio by itself.

The bigger issue for these people is probably not a tax burden, but rather the huge jump in insurance premiums they will be incurring!!
SchippeWreck
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#3 Posted on 6.1.05 1239.54
Reposted on: 6.1.12 1241.07
What I want to know is how many of these cars have been stolen or vandalized since appearing on the show. They all seem like juicy targets.
Grimis
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#4 Posted on 6.1.05 1252.12
Reposted on: 6.1.12 1252.32
    Originally posted by Von Maestro
    Since they own the car already & everything done to the car is after-market, I imagine that MTV pays the sales tax on the items needed to Pimp the various Rides.

    For example, if you buy an XM Radio for your car, you do not add the tax value of the radio to your car as a whole, you pay tax on the radio by itself.
That may not necessarily be true. States like Virginia do tax you on the market value of your car. You can try to get away with Blue Book, but obviously if there are significant improvements it wll be noticed.
Matt Tracker
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#5 Posted on 6.1.05 1432.52
Reposted on: 6.1.12 1432.55
I also wonder about repair work. I assume/hope there's a warranty for the many TV monitor housings, electrical wirings and gadgets they install.
Battlezone
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#6 Posted on 6.1.05 1444.12
Reposted on: 6.1.12 1444.52
Yeah, they seem to have such a fetish for putting monitors everywhere (even UNDERNEATH the car!), that I'd hope they'd be covered if that stuff crapped out.

There was a story floating around that West Coast Customs got fined for yanking out airbags and putting monitors in it's place: Click Here (abclocal.go.com)
thecubsfan
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#7 Posted on 6.1.05 1523.43
Reposted on: 6.1.12 1527.15
Similarly, I wonder how they take care of the increased taxes for houses redone on reality show.

I don't expect a $1,000 Trading Space room to make a huge impact in property tax, but for the usual Extreme Makeover Home Edition story (family needs bigger/finished house, can not afford it, house is redone), you're greatly increasing the burden who are on the show because they already have a great burden.
EddieBurkett
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#8 Posted on 6.1.05 1627.12
Reposted on: 6.1.12 1629.01
    Originally posted by thecubsfan
    Similarly, I wonder how they take care of the increased taxes for houses redone on reality show.

    I don't expect a $1,000 Trading Space room to make a huge impact in property tax, but for the usual Extreme Makeover Home Edition story (family needs bigger/finished house, can not afford it, house is redone), you're greatly increasing the burden who are on the show because they already have a great burden.


ABC is apparently playing tax games. Click Here (realitytvworld.com)

(edited by EddieBurkett on 6.1.05 1729)
drjayphd
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#9 Posted on 6.1.05 1747.08
Reposted on: 6.1.12 1752.51
    Originally posted by SchippeWreck
    What I want to know is how many of these cars have been stolen or vandalized since appearing on the show. They all seem like juicy targets.


I think four people have tried to sell theirs on eBay, but I don't know if anyone did it successfully. Maybe they realize that they're a target or just can't pay any associated fees.
DJ FrostyFreeze
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#10 Posted on 6.1.05 1749.45
Reposted on: 6.1.12 1754.42
    Originally posted by Battlezone
    There was a story floating around that West Coast Customs got fined for yanking out airbags and putting monitors in it's place
My local newsradio station spent about a lot of time on this story earlier this week during their mid-day financial program . Apparently, it's against the law to 1) interfere with ANY safety equipment on your car, and 2) have any video screen in your vehicle within the driver's eyesight. GPS systems are the only exception. You can even get pulled over & cited if your passenger is using a laptop in the seat next to you!
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