This bill enacts new provisions under R.S. 47:164 regarding income tax withholding on certain gaming winnings in Louisiana. It mandates that any person paying gaming winnings must withhold individual income taxes at the highest rate specified in R.S. 47:32(A) if federal income taxes are also required to be withheld. This requirement applies to all individuals, regardless of residency, and includes specific provisions for casinos paying slot machine winnings and for those paying sports wagering or fantasy sports contest winnings. Additionally, those responsible for withholding must submit an annual electronic report to the Department of Revenue detailing the names of individuals whose winnings were subject to withholding.

Furthermore, the bill establishes that all tax withholdings must be reported and remitted electronically to the Department of Revenue, in accordance with existing regulations. The Secretary of the Department of Revenue is tasked with promulgating necessary rules to implement these provisions, ensuring compliance with the Administrative Procedure Act. Overall, the bill aims to streamline the process of income tax withholding on gaming winnings and enhance reporting requirements for better oversight.