11 Va. Admin. Code § 5-41-190

Current through Register Vol. 40, No. 22, June 17, 2024

Section 11VAC5-41-190 - 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.

11 Va. Admin. Code § 5-41-190

Derived from Virginia Register Volume 19, Issue 15, eff. May 7, 2003; amended, Virginia Register Volume 28, Issue 26, eff. September 26, 2012; Amended, Virginia Register Volume 31, Issue 03, eff. 11/5/2014.

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).