Section 190. Withholding, notification of prize payments

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.

Historical Notes

Derived from Volume 19, Issue 15, eff. May 7, 2003; amended, Virginia Register Volume 28, Issue 26, eff. September 26, 2012; Volume 31, Issue 03, eff. November 5, 2014.

Statutory Authority

§ 58.1-4007 of the Code of Virginia.