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.

Last amended: Historical Notes Derived from VR630-6-4006 § 4, eff. November 21, 1990.

Source: view the official text

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