Columbus Pro Musica, Inc.
In cooperation with Chevrolet of Columbus
Columbus Pro Musica, Inc., d/b/a Columbus Indiana Philharmonic, is a 501(c)(3) entity whose mission is to make music. Funds raised through this Raffle will assist with music education and programming.
Raffle Rules and Eligibility
Each entrant, by entering the Raffle, agrees to abide by all of the rules and conditions contained herein, as well as all applicable local, state and federal laws and regulations, and further agrees to release Columbus Pro Musica, Inc., its directors, officers and employees from any and all liability with respect to all aspects of the Raffle including, but not limited to, the selection process. The Raffle is open to any eligible person residing in a country or state where the Raffle is not prohibited. Entrants must be 18 years of age or older.
- Certificate Purchase
The cost to purchase a single entry Certificate for the Raffle is $150.00 (U.S. funds only) and is not tax deductible. A maximum of 999 Certificates will be sold. Any entrant may purchase more than one Certificate. Payment can be made by cash, check or debit card. If an entrant’s payment is dishonored by the bank for any reason, such entrant’s Certificate will be declared invalid unless full and satisfactory payment is made prior to the Raffle drawing. Completed entry forms must be in the possession of Columbus Pro Musica, Inc. by 12:00 p.m. Friday, July 28, 2017, or before 999 valid Certificates are sold. All entry forms will be handled and recorded on a first come, first served basis. Any entry forms and payment, including payments previously dishonored, received after closure of the Raffle will be returned to the entrant. Upon receipt of a completed entry form and valid payment, a Certificate with assigned number will be issued. A letter acknowledging receipt of valid payment and notifying the entrant of their Certificate number will be emailed to the entrant or mailed via U.S. Postal Service if an email address is not available.
The Grand Prize is a 2017 Base Model Chevrolet Corvette Stingray with automatic transmission, including standard features only as designated by Chevrolet, OR a $50,000.00 cash prize. If the vehicle option is chosen, the winner must make arrangements for delivery of the Corvette at Chevrolet of Columbus, Columbus, Indiana, within 30 days of the drawing or the winner forfeits all claims thereto. Winner is responsible for transportation of the Corvette to their location.
Winner will be determined by a random drawing from all eligible Certificates as of the entry deadline. Winner need not be present to win. Drawing will be held at Chevrolet of Columbus, 2825 Merchant Mile, Columbus, Indiana, on Saturday, July 29, 2017. Drawing will be held under the supervision of a certified public accounting firm.
By law, IRS and the state of Indiana require payment of federal and state taxes at the time of the award. Columbus Pro Musica, Inc. will pay to the IRS and state of Indiana for the winner’s benefit these amounts due. The Indiana tax rate is 3.23% in 2017. Federal tax of 28% must be paid not only on the fair market value of the winnings but also on the tax being paid on the winner’s behalf as well, resulting in a grossed up federal tax rate of 33.23% of the winnings. This may or may not be the actual amount winner will owe on federal and state taxes. Winner is strongly encouraged to consult a tax adviser concerning their specific situation. A form W-2G must be signed by the winner and provided to Columbus Pro Musica, Inc. prior to the winner taking delivery of the Corvette. The form W-2G will be filed by Columbus Pro Musica, Inc. with the IRS to report the value of the prize won and taxes paid on behalf of the winner.
If the winner is a nonresident alien, additional conditions apply. All nonresident aliens are required by IRS regulations to pay 30% US income tax on the value of the prize unless the winner is a resident of specific countries exempted by treaty. The incremental amount due above the amounts identified above to the IRS of 5% of the fair market value of the Corvette must be paid to Columbus Pro Musica, Inc. prior to taking delivery of the Corvette. Columbus Pro Musica, Inc. will file IRS Form 1042 or 1042-S to report the value of the prize won and the taxes paid on behalf of the winner.
Winners will be notified by phone, email or mail based on the information received on their entry form. Winners will be required to provide two forms of identification, one of which must be a photo ID, to verify that the person taking delivery of the Corvette is the person named on the winning Certificate.
Winner agrees to the use of their name, address, photograph or video likeness and statements for publicity purposes by Columbus Pro Musica, Inc. and agrees to sign a publicity release without any further compensation. Winner is responsible for all costs associated with title, registration, licensing, delivery and other applicable fees.
- Alternate Winners
Successive alternate winners will be drawn and held by Columbus Pro Musica, Inc. but not announced in case the winner does not claim and make arrangements for taking delivery of the Corvette in 30 days, is deceased, or is otherwise ineligible to take delivery of the Corvette.
- Postal Regulations
Due to postal regulations, Raffle Certificates cannot be mailed to you. Columbus Pro Musica, Inc. will email a receipt for the entry payment or mail a receipt if entrant does not have an email account. When an entry form is received with payment, Columbus Pro Musica, Inc. will complete the Certificate by filling in the name, address, email address and phone number. Certificates will be stored securely until the date of the drawing.
- Authority and Control
Columbus Pro Musica, Inc. reserves the right to cancel or modify the Raffle. If 999 Certificates are sold before the scheduled drawing date, Columbus Pro Musica, Inc. reserves the right to end the Raffle early and draw the winning Certificate at a date earlier than the scheduled drawing date. If 750 Certificates are not sold by July 29, 2017, Columbus Pro Musica, Inc. reserves the right to withdraw the Grand Prize and split the net proceeds (income less expenses) equally between the Grand Prize winner and Columbus Pro Musica, Inc., extend the sales deadline to meet the minimum number of certificates sold, or cancel this contest, in which event its liability is limited to refund of entry purchase price paid by entrant.
This Raffle is subject to all applicable federal, state and local laws, and is void where prohibited, taxed or otherwise restricted.
Columbus Pro Musica, Inc. reserves the right to make all decisions regarding procedures relating to this Raffle and all decisions are final.
All proceeds benefit Columbus Pro Musica, Inc. Indiana Raffle License 143454.