| Action | Amendments to reflect Chapter 884 (2003 Acts of Assembly) |
| Stage | Proposed |
| Comment Period | Ended on 6/3/2005 |
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11 VAC 15-22-70(B)(4).
The language of the Regulation reads as follows:
4. Receipts for all raffle prizes valued at $500 or more on which prize winners must provide printed name, residence address and the amount and description of the prize received; and
It is suggested that the language be changed to read as follows:
4. Receipts for all raffle prizes valued at $500 $600 or more on which prize winners must provide printed name, residence address and the amount and description of the prize received; and
The purpose of this suggestion is to bring the prize winner identification requirement in line with the requirement of the Internal Revenue Service (IRS) that winners of $600 or more must be identified on a W2-G form to be filed with the IRS and maintained by the organization.