N.C. Gen. Stat. § 105-163.2B

Current through Session Law 2024-56

Section 105-163.2B - [Effective for taxable years beginning on or after January 1, 2015] North Carolina State Lottery Commission must withhold taxes

The North Carolina State Lottery Commission, established by Chapter 18C of the General Statutes, must deduct and withhold State income taxes from the payment of winnings in an amount of six hundred dollars ($600.00) or more. The amount of taxes to be withheld is a percentage of the winnings. The percentage is the individual income tax rate in G.S. 105-153.7. The Commission must file a return, pay the withheld taxes, and report the amount withheld in the time and manner required under G.S. 105-163.6 and G.S. 105-163.7 as if the winnings were wages. The taxes the Commission withholds are held in trust for the Secretary.

Amended by 2015 N.C. Sess. Laws 259, s. 7.1-d, eff. 1/1/2015.

Amended by 2013 N.C. Sess. Laws 316, s. 1.3-g, eff. 1/1/2014.

Amended by 2006 N.C. Sess. Laws 264, s. 91.(b), eff. 8/27/2006.

Amended by 2006 N.C. Sess. Laws 259, s. 8.(f), eff. 8/23/2006.

Added by 2005 N.C. Sess. Laws 276, s. 31.1.(bb), eff. 7/1/2005, which added a new section numbered 10.2.(a) to 2005 N.C. Sess. Laws 344, eff. 1/1/2005.

This section is set out twice. See also §105-163.2B, effective for taxable years beginning before 1/1/2015.