I won a boat in the mc d's at rayburn. me and my partner vaguely agreed we would split any winnings. well, I never imagined I would win a boat, caught a 3.00. I didn't want the boat because I had just bought a new one. well before we even left the parking lot he had his hand out wanting me to give him $10,000, my 1099 I received said it was worth $19,900 and change. I told him I could not do that and I couldn't give him anything until the boat was sold. He was not happy about it and I had to tell him like it was. This is kin folk, been fishing together since I was about 10 years old, we were pretty close, and all of the sudden he is turning on me over this. Well, I gave in to him by trying to sell the boat for what my 1099 said it was worth. Well, 6 months later and well over $1,000 out of MY POCKET I have not been able to get the boat sold. If I don't sell it by the end of the year, the amount of the 1099 is added to my annual income and the taxes are based off the tax bracket that puts you into. All this time he has done absolutely NOTHING to try and help the cause all this time other than hold his hand out wanting to know when he is gonna get his money. I explained to him that my goal was to sell the boat by the end of the year for whatever I could get because of the tax burden it would put on me. I ended up selling it for $10,000 the week before christmas. Of course, his hand is out immediately wanting $5,000. I explained to him that after my taxes were done I would give him half of what was left after I took out for my expenses to sell the boat, and as you can guess, this is an ugly situation. He said that he doesn't pay taxes so I should not be taking out anything from his half for tax purposes! I ended up profiting about $3,700 out of this and I lost a good friend, so I thought anyway, and fishing partner out of the deal.

I have won a couple boats in team tournaments. I supplied the boat but we split all actual expenses and we split the sale of the boat 50/50.
There is no way the guy whose boat they fished out of deserves 70%. It is a team deal you chose to fish with the guy, probably a friend too, who owns the boat doesn't matter.
As far as taxes the state of texas only charges sales tax, no where near 35%. If you win a certificate and sale it you by pass those taxes and the person that buys the certificate pays the taxes when he registers and titles the rig. You will pay income taxes on the value of the boat but can write off a loss against it if you sell the boat for less.
Winning a boat is about as exciting as it gets for a weekend warrior don't ruin it by loosing a friend and fishing partner.

I find it somewhat amusing that those without boats don't want to consider the cost of boat ownership when considering how to split the costs and winnings of a tournament.

If I invited somebody to go fishing for fun with me I don't expect them to pay for anything for the trip. It's my trip, I want their company, I should be willing to pay for the trip.

If they invite themselves they should be winning to pay for the gas and launch fee since I am paying for the boat they want to use for their fishing.

However fishing a tournament that provides earnings of is a different animal, more of a business than a fun fishing trip among friends. If earnings are to be split 50-50, then all costs related to fishing the tournament should be split 50-50.

Part of the cost of fishing a tournament is the cost of the boat and the vehicle to get the boat to the water. One of the partners must own a boat in order for them to fish the tournament and should be reimbursed for the use of that boat and vehicle for that tournament.

The perfect way to do this is to alternate the equipment used for each tournament, however both partners own a boat to do this.

But if one partner does not own a boat then the partner without a boat should receive a smaller percentage of earnings since he has less money in the tournament, even if they split all tournament related expenses 50-50. Or there should be an agreed upon rental rate for the boat and vehicle for that day.

And that agreed upon rate should be paid for every tournament by the partner without a boat, regardless of whether the partners win anything in the tournament or not.

So do you keep a higher percentage of cash if you and your partner win 200.00? What is the difference really, just a bigger dollar amount. Is there an amount of money you could win that would be worth loosing a good friend over? If so you should fish alone because on any given day anyone could win a big prize and loose something more precious than money, friendship.
Greed never produces a positive result in a "team" event.