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WebMar 21, 2024 · Sweepstakes registration and bonding, state-by-state. Registration and bonding has many state-by-state variance based on prize value. For example, Rhode Island requires a registration for sweepstakes that exceed a total prize value of $500 (bonding is not required), and applies to retailers only. Prizes that exceed $5,000 in value require ... WebThe Internal Revenue Service taxes prize winnings at the rate that applies to your income tax bracket, and any organization that pays out a prize over $600 is required to report it. … how far away humidifier
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