Good day everybody, I hope everybody’s having an important day! I’ve a query that I’m positive a few of you guys can fill me in on.
Is it authorized to open up an internet site the place individuals buy digital raffle tickets (for say, $0.50 to $5.00) for probabilities to win sure gadgets? Let’s say you’re holding a raffle for a 60” Flat Display screen TV, and the tickets are $4.50 a pop. If 300 individuals enter to win, you could have $1,350 to purchase and ship the TV. The television would value you about $399-$699, and would depart you with a fairly good margin.
I’m unsure how this could be unlawful, beings that the individuals shopping for the tickets know what they’re getting themselves into, and the taxes can be paid on the TV. I’m positive there’s in all probability a problem with taxes concerning the tickets themselves, however what should you labored within the taxes on the tickets?
I’m not beginning this web site, and possibly don’t plan to, however I’ve had this query on my form for a very long time now. Thanks![ad_2]