Browse Arkansas Code titles and sections
26-51-2305. Withholding return, reporting, and payment.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-2305. Withholding return, reporting, and payment.
(a) A claim center shall register to withhold income tax under § 26-51-2304 from lottery winnings in the manner prescribed by the Secretary of the Department of Finance and Administration.
(b) The withholding account used to report and remit the withholding on wages shall not be used to report withholding on lottery winnings.
(c) A separate account for withholding on lottery winnings shall be obtained from the Revenue Division of the Department of Finance and Administration.
(d) Each claim center shall file a monthly return and remit the income tax withheld from lottery winnings on or before the fifteenth day of the month following the month in which the income tax was withheld.
(e) A claim center shall keep the following records and information for six (6) years after the date the income tax becomes due or is paid, whichever is later:
(1) The total lottery winnings paid;
(2) The amount of lottery winnings income tax withheld and remitted;
(3) The name, address, Social Security number or taxpayer identification number, and amount of lottery winnings of each person in receipt of lottery winnings; and
(4) The name, address, and taxpayer identification number of the claim center.
(f)(1) A claim center shall provide two (2) copies of a statement to each person who received lottery winnings and had an amount withheld under § 26-51-2304 during the income year before January 31 following the close of the income year.
(2) Each statement shall contain the following:
(A) The name, address, and Social Security number or taxpayer identification number of the person in receipt of lottery winnings;
(B) The total amount of the lottery winnings subject to withholding that was paid by the claim center to t
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-2305
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:26-51-2305
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 082bf8b8b653c8abab589ae3d04c0e495db4bfd7028ce1285145c89d9f057d67
Source location: content.xml paragraph 16881
Stored source content
26-51-2305. Withholding return, reporting, and payment.
(a) A claim center shall register to withhold income tax under § 26-51-2304 from lottery winnings in the manner prescribed by the Secretary of the Department of Finance and Administration.
(b) The withholding account used to report and remit the withholding on wages shall not be used to report withholding on lottery winnings.
(c) A separate account for withholding on lottery winnings shall be obtained from the Revenue Division of the Department of Finance and Administration.
(d) Each claim center shall file a monthly return and remit the income tax withheld from lottery winnings on or before the fifteenth day of the month following the month in which the income tax was withheld.
(e) A claim center shall keep the following records and information for six (6) years after the date the income tax becomes due or is paid, whichever is later:
(1) The total lottery winnings paid;
(2) The amount of lottery winnings income tax withheld and remitted;
(3) The name, address, Social Security number or taxpayer identification number, and amount of lottery winnings of each person in receipt of lottery winnings; and
(4) The name, address, and taxpayer identification number of the claim center.
(f)(1) A claim center shall provide two (2) copies of a statement to each person who received lottery winnings and had an amount withheld under § 26-51-2304 during the income year before January 31 following the close of the income year.
(2) Each statement shall contain the following:
(A) The name, address, and Social Security number or taxpayer identification number of the person in receipt of lottery winnings;
(B) The total amount of the lottery winnings subject to withholding that was paid by the claim center to the recipient of the lottery winnings for the income tax year;
(C) The total amount withheld from the recipient's lottery winnings by the claim center under this subchapter for the income year;
(D) The name, address, and Arkansas identification number of the claim center; and
(E) Such other information as the secretary shall require by rule.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-2304. Amount deducted and withheld — Credit.
(a) A claim center making a payment of lottery winnings on a single lottery ticket of more than five thousand dollars ($5,000) shall deduct and withhold an amount equal to seven percent (7%) of each payment of the lottery winnings.
(b) The amount deducted and withheld under this section from any lottery winnings paid to a person during the income year shall be credited against the income tax liability of that person under the Income Tax Act of 1929, § 26-51-101 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-2304
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-51-2304. This identifies an authority to review, not proof of applicability.