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From press release
The popular ChumpCar World Series is expanding.
ChumpCar International inc. CEO John Condren has decided to create an independent ChumpCar "club" to organize and promote racing events in Canada.
"I realized that migrating ChumpCar to a new legal entity - moving from the "for-profit" LLC to the "non-profit" and club-based INC - would create an issue for on-going events in Canada," said Condren.
"Legal and financial restrictions are clearly spelled-out by the Internal Revenue Service (IRS) regarding international revenue streams."
Therefore, starting January 1st, 2015, ChumpCar Canada will be in charge of everything north of the border.
Canadian members will have pay to dues to support ChumpCar Canada, but their ChumpCar memberships will still be valid at all US-based events.
Similarly, US members will be allowed receive access to all Canadian race meetings.
The popular ChumpCar World Series is expanding.
ChumpCar International inc. CEO John Condren has decided to create an independent ChumpCar "club" to organize and promote racing events in Canada.
"I realized that migrating ChumpCar to a new legal entity - moving from the "for-profit" LLC to the "non-profit" and club-based INC - would create an issue for on-going events in Canada," said Condren.
"Legal and financial restrictions are clearly spelled-out by the Internal Revenue Service (IRS) regarding international revenue streams."
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| Photo: Facebook |
Therefore, starting January 1st, 2015, ChumpCar Canada will be in charge of everything north of the border.
Canadian members will have pay to dues to support ChumpCar Canada, but their ChumpCar memberships will still be valid at all US-based events.
Similarly, US members will be allowed receive access to all Canadian race meetings.