Virginia Administrative Code
Title 11 - GAMING
Agency 5 - VIRGINIA LOTTERY BOARD
Chapter 41 - LOTTERY GAME REGULATIONS
Section 11VAC5-41-190 - Withholding, notification of prize payments
Universal Citation: 1 VA Admin Code 5-41-190
Current through Register Vol. 41, No. 3, September 23, 2024
A. When paying any prize in excess of $600, the agency shall:
1. File the appropriate
income reporting forms with the Virginia Department of Taxation and the federal
Internal Revenue Service; and
2.
Withhold federal and state taxes from any winning ticket in accordance with the
tax regulation in effect at the time.
B. Additionally, when paying any cash prize of $100 or more, the agency shall withhold any moneys due for delinquent debts as provided by the Commonwealth's Setoff Debt Collection Act, Article 21 (§ 58.1-520 et seq.) of Chapter 3 of Title 58.1 of the Code of Virginia.
Statutory Authority: §§ 2.2-4007.02 and 58.1-4007 of the Code of Virginia (11VAC5-11-10, 11VAC5-11-20) .
§ 58.1-4007 of the Code of Virginia (all other sections).
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