[Tim Kish]

Question most likely for Julie -

My understanding is sponsorship dollars be handled different ways. 1) Sponsor dollars are entered as income, 1099 is required and income tax is applied. 2) Your racing "business" sells a product (advertising signage). then wouldn't the sponsor dollar be purchasing product for which you would be required (with license) to pay only sales tax on? Option 2 to me seems the most legitimate as the race car / trailer is a traveling billboard (see DOT regulations fore business use of trailer - whole seperate issue) so you are selling a product, not just receiving income.