Press Your Luck

[Dublin 'Eer]

Was watching the new Press Your Luck tonight, and the contestant won a Model X with a price tag of $160K+. Even before the price cut, there are no configurations even close to that. Did they grossed up to cover the taxes?

 

[djillusion]

My window sticker of my X was over $162K.

 

[Watts_Up]

I just Max up and get only $123k (or a week ago before the $5k drop, it would have been $128k)

• $99,990 - Model X Performance
• Included - Ludicrous Mode
• $2,500 - Red Multi-Coat
• $5,500 - 22" Onyx Black Wheels
• $1,500 - Black and White Premium Interior with Carbon Fiber Décor
• $6,500 - Six Seat Interior
• Included - Autopilot
• $7,000 - Full Self-Driving Capability

• $122,990 - Purchase Price

 

[CapeOne]

The current max MSRP for an MX is around $124k but in prior years, they could in fact top $160k. Perhaps the show was a repeat?

 

[Dublin 'Eer]

The current max MSRP for an MX is around $124k but in prior years, they could in fact top $160k. Perhaps the show was a repeat?

It was the premier of this season’s episodes, so it should have been taped relatively recently. I’ve seen instances in the past where additional cash was provided when large prizes were awarded to cover the taxes, but I don’t think I’ve ever seen it on a game show. I must admit that I’m not nearly as as familiar with the MSRP on other items as I am on Tesla’s.

 

[Dublin 'Eer]

My window sticker of my X was over $162K.

How long ago was that?

 

[Watts_Up]

Note: The winner still need to declare the price as taxable income...

So typically for the 35% to 45% range, a $124k income would be an additional $50k.

 

[Bigriver]

In the U.S., currently there is no 45% tax bracket. Top is 37%. Many of us are well below that, although a $124k or $160k prize will kick into higher bracket than we would otherwise be.

 

[CapeOne]

It was the premier of this season’s episodes, so it should have been taped relatively recently. I’ve seen instances in the past where additional cash was provided when large prizes were awarded to cover the taxes, but I don’t think I’ve ever seen it on a game show. I must admit that I’m not nearly as as familiar with the MSRP on other items as I am on Tesla’s.

No 2020 MX should've stickered for over $160k. I don't watch the show but despite being a new/premier episode, perhaps it was originally taped last year and shelved or delayed in part due to COVID-19. Or maybe the MX prize included suitcases full of money in the back!

 

[Dublin 'Eer]

Note: The winner still need to declare the price as taxable income...

So typically for the 35% to 45% range, a $124k income would be an additional $50k.

In the U.S., currently there is no 45% tax bracket. Top is 37%. Many of us are well below that, although a $124k or $160k prize will kick into higher bracket than we would otherwise be.
View attachment 546716

In the U.S., currently there is no 45% tax bracket. Top is 37%. Many of us are well below that, although a $124k or $160k prize will kick into higher bracket than we would otherwise be.
View attachment 546716

No but it is very possible to get to 45% or higher in the US by the time federal, state, and local taxes are included in many locations.

 

[Brahane]

the MVD shows my 2016 I just got has a sticker of $118k
/shrug