AOPA Plane Giveaway and Taxes

In a previous article, George Patterson said:
Jon Kraus wrote:
Does anyone know if there would be tax consequences for the lucky winner
of the AOPA Commander 112. Thanks!!

The winner will pay Federal income taxes. Most States also have an income tax,
and the winner will pay that if he or she lives in one. Many States will also
charge a sales or usage tax.

So do they valuate the aircraft at the fair market value (ie. what a
normal Commander 112 of that age would fetch), or do they add all the
ridiculously expensive add-ons (none of which AOPA actually pays for,
since it's free advertising for the supplier) to that price and value it
at an amount that you'd never be able to sell the plane for in a million
years?



--
Paul Tomblin http://xcski.com/blogs/pt/
I mean, if went 'round saying I was a perl hacker, just because some
moistened bint lobbed a "Perl for Dummies" at me, they'd put me away!
-- Randy the Random