La. Admin. Code tit. 42 § XV-731
Current through Register Vol. 50, No. 11, November 20, 2024
Section XV-731 - Merchandise PrizesA. If a non-cash prize is offered, the value of the prize will be determined by the fair market value of any such prize, which will be the amount reported to the state and the IRS for tax purposes. The corporation may pay withholding taxes on behalf of the winner in accordance with federal and state rules. The corporation will not be responsible for any state taxes or other fees associated with the prize.La. Admin. Code tit. 42, § XV-731
Adopted by the Louisiana Lottery Corporation on August 8, 1991 and promulgated in the State Times on August 15, 1991, repromulgated LR 26:703 (April 2000), Amended LR 47369 (3/1/2021).AUTHORITY NOTE: Promulgated in accordance with R.S. 47:9001 et seq.