Q: When is $1 million not $1 million?
A: When it is paid as an annuity.
If your promotion has a million dollar winner and the rules call
for the prize to be paid over a period of years, HCC Specialty
Underwriters is the place
to turn when it is time to purchase the annuity.
HCCSU has worked with its AAA Rated carrier to address the constructive
receipt rules so that your winner will not have to pay taxes
on the value of the entire prize within the first year. This winner-friendly
structure of the annuity maximizes the PR boost from giving away
the big money. |
