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This is an obsolete version of the rule. Please click on the rule number to view the current version.

8.22.3421    WITHHOLDING TAX

(1) The payor of a parimutuel payoff that is over $5,000 and 300 to one odds must withhold federal income tax on the total winnings payment at a 28% rate.

(2) Payments that are subject to withholding under the above rules are to be treated in the same manner as if they were wages paid by an employer to an employee.   Thus, the payor is liable for withholding the tax and paying it over to the federal government.

History: 23-4-202, MCA; IMP, 23-4-301, 23-4-302, 23-4-303, MCA; Eff. 12/31/72; AMD, Eff. 5/4/74; AMD, Eff. 5/5/77; AMD, 1979 MAR p. 39, Eff. 1/26/79; TRANS, from Dept. of Prof. & Occup. Lic., Ch. 274, L. 1981, Eff. 7/1/81; AMD, 1995 MAR p. 2796, Eff. 12/22/95; TRANS, from Dept. of Commerce, 2002 MAR p. 1500; TRANS, from 32.28.1621, 2015 MAR p. 2252, Eff. 12/25/15.

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