(a) Every franchise holder required to deduct and withhold income tax from racing winnings under this subchapter shall file an annual statement of withholding for each person receiving racing winnings subject to withholding under this subchapter.
(b)
(1) The annual statement shall be in the form prescribed by the Director of the Department of Finance and Administration and shall be filed with the director.
(2) Two (2) copies of the statement shall be furnished to each person who had received racing winnings during the income year before January 31 following the close of the income year.
(c) The statement shall show:
(1) The name and withholding account number of the franchise holder;
(2) The name and address of the person who had received the racing winnings and his or her taxpayer identification number;
(3) The total amount of the racing winnings subject to withholding paid by the franchise holder to the recipient of the racing winnings;
(4) The total amount withheld from the recipient's racing winnings by the franchise holder pursuant to this subchapter for the income year; and
(5) Such other information as the director shall require by rule or regulation.
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