(1) If a lottery prize payment for a prize is $1,500 or more, and the payment is made to an individual, the Oregon State Lottery Commission shall withhold eight percent of the payment. A payment made to a partnership, estate, trust or corporation shall not be subject to the withholding of tax.

Terms Used In Oregon Statutes 316.194

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the Department of Revenue. See Oregon Statutes 316.022
  • Individual: means a natural person, including aliens and minors. See Oregon Statutes 316.022
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.

(2) The commission shall pay to the Department of Revenue any amounts withheld under this section in the time and manner provided by the department by rule.

(3) If a prize exceeds $600, the commission shall provide the prize recipient an income reporting form indicating the amount of the prize payment being made. At the request of the prize recipient or the department, the commission shall provide the requester a copy of an income reporting form provided under this subsection. [1997 c.849 § 4; 1999 c.43 § 1; 1999 c.143 § 5; 2003 c.48 § 1; 2017 c.19 § 1]

 

[1953 c.304 § 25; repealed by 1969 c.493 § 99]

 

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