(A) "Winnings" means gambling winnings, prizes, awards, and winnings derived from gaming, wagering, sweepstakes, raffles, lotteries, bingo, slot machines, casino games, horse racing, dog racing, jai alai, wagering pools, resulting from play, wagering, other wagering transactions games of chance, or activities related to the winnings of such income by residents and nonresidents of the City of Milford, and includes prizes, awards, and winnings paid to residents of the City derived from the State Lottery, and paid by the State Lottery Commission.
(A) (1) Taxpayers are required to file a return for any winnings reported on Form W-2G or Form 5754.
(B) Any business, profession, or other enterprise located in the City of Milford which sponsors, creates, or allows play, gaming, wagering, sweepstakes, or games of chance or
Activities which result in winnings, as defined in this chapter, and the winnings are an amount for which reporting to the Internal Revenue Service of the amount is required by Section 6041 of the Internal Revenue Code, as amended, the business, profession, or enterprise operating such activity shall deduct and withhold municipal oncome tax from the person's winnings at the rate of the tax imposed by this Chapter. Amounts withheld shall b remitted to the Milford Tax Department or the Regional Income Tax Agency within thirty (30) day.
(B) (1) The requirements in this section requiring the immediate withholding and remittance of taxes to the Milford Tax Department shall not apply to nonprofit, religious, charitable, or educational organizations that operate a fund raising raffle, game of chance, or sweepstakes.
(B) (2) Each business, profession, or other enterprise or activity shall make and file a yearly information return by February 28 th on a form furnished by the Milford Tax Department, detailing the amount of tax deducted from a person's winnings, and prize awards and paid to the Milford Tax Department in accordance with this Chapter.
(Ord. 18-1379. Passed 6-19-18.)