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(ii) We additionally withhold taxes on any guess which results in proceeds of $5,000.00 or more the place the winnings are at the very least 300 times the quantity of the wager. We withhold the required amount as directed by the inner Revenue Service and applicable state revenue or taxing authority and remit such quantities to the inner Income Service and/or applicable state income or taxation workplace, as relevant and as could also be amended once in a while.