July 4th Raffle For $160,000 Decked Out Tesla Model S or X With Taxes Paid And Cut The Line

Updated on

We are pleased to present an awesome raffle for a good non profit – enter now as tickets are running out and the drawing is on July 4th!! See the car below? That  could be yours (plus you get to customize it AND federal income tax payment by the organization – its $160k value and there are other offers as well :) and you can help a good charity in the process, but act soon! Check out more about Climate XChange here.

Also we have more details on-site about Tesla tax credits this right here

  • Grand Prize:  Model S or X, $120K value, built-to-order by Winner.  Plus CXC pays $40K directly to IRS.  Total value:  $160K!
  • 2nd and 3rd Prizes:  we help the Winner buy a Model 3 or the Winner can take cash
    • Prize includes an early reservation, which should put Winner into an early group of people receiving Model 3
      • Otherwise, the line is 400,000+ long… But note Tesla ultimately has the final say on exact delivery dates
      • Early implies $7,500 federal tax credit should still be available
    • Also includes $1,000 reservation deposit
    • Also includes $10,000 cash (2nd prize) or $5,000 cash (3rd prize)
    • Also includes $3,666 federal income tax payment (2nd prize) or $2,000 federal income tax payment (3rd prize)
    • Prize total value:  $14,666 (2nd), $8,000 (3rd)
  • 4th, 5th & 6th Prizes:  Cash of $2K, $1K, $1K respectively

Specifically regarding federal income tax payment,

The federal income tax withholding payment for the Grand prize is FORTY THOUSAND DOLLARS!  It’s a staggering amount.  If the winner had to pay that particular tax directly, the winner would pay $30,000 — the withholding requirement is 25% of the prize’s value ($120,000).  Because we pay it on behalf of the winner, we have to pay at the rate of 33.33% because we have to ALSO pay taxes on the GIFT of the federal income tax payment.  Then we have to pay taxes on those taxes and then we have to pay taxes on those taxes again until finally we get down to less than a penny.  So the 25% rate becomes 33.33% rates, so CXC pays $40,000 (33.33% of $120K).
+ We are also making the federal income tax withholding payments on the second and third prizes involving Model 3
+ The model 3 reservations are “early”, that is, the winners will be treated as if they stood in line the first day.  Tesla does NOT guarantee anyone a particular delivery date, but basically the CXC 2nd and 3rd prize winners will be ahead of about 300,000 or 350,000 other people.
Which means:
(a) they get the car way sooner and
(b) they get the car soon enough that they almost certainly qualify for the $7,500 federal income tax credit, too!

More on the raffle below.

Boston-based nonprofit Climate XChange has been hard at work for months trying to pass carbon pricing bills S.1821 and H.1726. If passed, the bills would put a fee on fossil fuels as they enter the state, then rebate some or all of the revenue back to households and businesses. The bills intend to stimulate the economy while reducing carbon emissions. In an effort to raise funds, Climate XChange has been selling raffle tickets. The grand prize? A Tesla and a stay at the relaxing, luxurious Great Pines Resort.

The small nonprofit has already sold nearly 2,000 tickets, but still has tickets left to sell. With only twelve days left until the drawing, it’s only a matter of time before one lucky carbon pricing supporter ends up napping in the Adirondacks with their brand new Tesla Model S or Model X charging outside the cabin. Others will walk away with five other prizes as well, including cash and Tesla Model 3 reservations.

“My son encouraged me to check out a Tesla a few years ago. I had to ask him, ‘What’s a Tesla?’ He told me it’s a better car than my old Prius,” says Al Nierenberg, the winner of Climate XChange’s 2015 Tesla raffle. “I thought about the Tesla when I bought my ticket, but I didn’t think I would win – I really bought it to help put a price on carbon. You’ll never know your luck if you don’t buy a ticket.”

Since 2013, Climate XChange has been working with the Campaign for a Clean Energy Future to pass a price on carbon pollution in Massachusetts. This legislative session, the bills have gathered 80 co-sponsors – more than one-third of the legislature.

Earlier this month, 200 supporters attended 50 meetings with legislators during the campaign’s Carbon Pricing Lobby Day. One week later, nearly 500 advocates showed up at the Telecommunications, Utilities, and Energy Committee hearing for the two carbon pricing bills, and 60 of those testified directly to the committee. The lineup of testifiers supporting the bills included legislators, health professionals, students, scientists, economists, farmers, business leaders, and faith communities.

“Getting everyone on board with the bills initially seemed a tremendous task,” said Michael Green, Executive Director of Climate XChange. “It’s been rewarding to see our hard work elicit such strong support in such a short amount of time. When we tell people about a simple, cost-effective, efficient mechanism for tackling climate change, they want to know more and they want to support it.”

To celebrate this success, Climate XChange is working during these last few weeks of the raffle to sell tickets (you can buy one here!) and plan a 4th of July Tesla Raffle Bash. To be held on the front lawn of Boston’s historic Old West Church, the evening will buzz while attendees enjoy a live jazz trio, play cornhole, eat burgers hot off the grill, and ticket holders anticipate the drawing. The event is free and open to the public – you can RSVP here.

Climate XChange is an educational and research organization dedicated to providing policymakers and advocates with cutting edge information on market-based solutions to climate change.



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