23 Va. Admin. Code § 10-140-283 - Lottery winnings; forms and reporting
A. Federal. The Lottery Department shall
report every lottery prize of $600 or more on Form W-2G. Form W-2G must be
prepared and filed in accordance with the regulations promulgated by the
Internal Revenue Service.
B. State.
The Lottery Department shall file Virginia state income tax withholding returns
in accordance with § 58.1-472 of the Code of Virginia. The Lottery
Department shall report state withholding amounts on proceeds in excess of
$5,000. The Lottery Department shall not be required to report any prize of
less than $600.
Notes
Statutory Authority
§§ 58.1-203 and 58.1-4006B(B)(1) of the Code of Virginia.
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.