Amendment ID: S2655-15

Amendment 15

Adjustment on 23K Threshold

Mr. Cronin moves that the proposed new text be amended in section 2 of said chapter 62B, as so appearing, by striking out the eighth paragraph and inserting the following paragraph:- 

"Every gaming establishment licensed in accordance with chapter 23K making a payment of winnings of $2,000 or more from slot machine play shall file a form W-2G with respect to such payment. Every person making a payment of winnings of $600 or more from pari-mutuel wagering shall file a form W-2G with respect to such payment if the proceeds are at least 300 times as large as the amount wagered. For purposes of this section, in determining whether such winnings equal or exceed the $2,000 or $600 amounts, the amount of winnings shall not be reduced by the amount wagered. Every person making a payment of winnings from wagering at a gaming establishment or from pari-mutuel wagering which are subject to tax under chapter 62 and subject to withholding under section 3402 of the Internal Revenue Code shall deduct and withhold from such payment an amount equal to 5 per cent of such payment. Every person who is to receive a payment of winnings which are subject to withholding shall furnish the person making such payment a statement, made under the penalties of perjury, containing the name, address, and taxpayer identification number of the person receiving the payment and of each person entitled to any portion of such payment. Notwithstanding any general or special law to the contrary, any review or transmission of information required to be done by a gaming licensee relative to the disbursement of cash or prize winnings shall be administered consistent with this paragraph and based upon real-time information."