Hi Wise and Generous Community –
You may remember me as the person who asked about raffling a car a few weeks ago (eeeek!)
We now plan to auction it off during a live auction.
Looking for advice on how to proceed with an email notification inviting participants to submit a proxy bid and the nuts and bolts of transferring the car to the winner. Do we collect sales tax? Should my university take control of the title? What are the IRS implications?
Thank you very much!
Thank you, Isaac and John, for this helpful information.