§ 26-51-2304 - Amount deducted and withheld -- Credit. - Arkansas Statutes

26-51-2304. Amount deducted and withheld -- Credit.

(a) A claim center making a payment of lottery winnings on a single lottery ticket of more than five thousand dollars ($5,000) shall deduct and withhold an amount equal to seven percent (7%) of each payment of the lottery winnings.

(b) The amount deducted and withheld under this section from any lottery winnings paid to a person during the income year shall be credited against the income tax liability of that person under the Income Tax Act of 1929, 26-51-101 et seq.