The University follows all applicable Federal and state regulations with regards to the reporting of raffles.
The distribution of prizes by chance among persons who have paid money for tickets which provide the opportunity to win prizes.
The following regulations apply:
Follow the procedure below to conduct a raffle:
Raffle conducted and winner(s) selected. Complete "Raffle Winner Tax Information" form for each winner and submit to Stockton Payroll no later than 30 days after the event.
The next step depends on both the type and amount of the prize:
Winner must complete Form W-9.Proceed to Step 7.
Winner must complete Form W-9 and 32% must be withheld from gross proceeds. Prepare Authorization for Payment forms made payable to:
Prepare Authorization for Payment form made payable to Internal Revenue Service equal to 33.33% of the value of the prize less the wager placed.
Proceed to Step 7.
Prepare Authorizations for Payment forms made payable to:
Value, as it applies to this policy, is the amount paid by the University for the item or the value of donated items on the date donated. Written independent verification is required by the University for items valued ≥ $600.
Contact Payroll Department for additional information.