Home
Forms Library
To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period

To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period 2025

To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period Preview on Page 1

Show details

4.3 out of 5

46 votes

The document is a GCVS-1 Verified Statement of Raffle Ticket Operations, intended for Category 1 Raffles with net profits under $30,000 within a calendar year. It requires the organization to certify its status as an authorized entity under the Games of Chance Licensing Law and outlines the necessary information regarding raffle operations, including license details, drawing locations, and dates. The document must be signed by an officer of the organization and notarized, with copies submitted to relevant authorities.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to change To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

With DocHub, making adjustments to your paperwork takes just a few simple clicks. Follow these fast steps to change the PDF To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period online for free:

Register and log in to your account. Log in to the editor using your credentials or click Create free account to evaluate the tool’s features.
Add the To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period for editing. Click the New Document button above, then drag and drop the sample to the upload area, import it from the cloud, or via a link.
Modify your template. Make any adjustments needed: add text and pictures to your To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period , highlight important details, erase sections of content and replace them with new ones, and add icons, checkmarks, and fields for filling out.
Complete redacting the form. Save the updated document on your device, export it to the cloud, print it right from the editor, or share it with all the parties involved.

Our editor is super intuitive and effective. Try it out now!

See more To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period versions

We've got more versions of the To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period form. Select the right To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period version from the list and start editing it straight away!

Versions	Form popularity	Fillable & printable
2017	4.3 Satisfied (46 Votes)
2014	4.9 Satisfied (59 Votes)

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Whats the difference between a draw and a raffle?

Understanding the differences between raffles and prize draws is vital for businesses looking to engage their audience through competitions. While raffles require ticket purchases and are heavily regulated, prize draws are typically free and less constrained by legalities.

Whats the difference between the lottery and the sweepstakes?

Unlike a sweepstakes, a lottery is a promotional device by which items of value (prizes) are awarded to members of the public by chance, but which requires some form of payment to participate. Lotteries are illegal, except when conducted by states and certain exempt charitable organizations.

What are the rules for raffles in NY?

No single prize in any raffle shall exceed $300,000. No series of raffle prizes shall exceed $500,000. The maximum aggregate value of prizes that an organization can award in any one calendar year in all the different types of raffles, combined shall not exceed $3,000,000.

What is the difference between a raffle and a lottery?

Raffles are another type of giveaway that functions similarly to lotteries in that they require a fee to enter, and you draw the winner randomly. But where raffles differ is with 2 key aspects, for instance: Raffles must have a winner every time, and you cant carry the prize pool over to the next draw.

What is the legal difference between a raffle and a drawing?

Under California law, a raffle requires participants to purchase tickets for a chance to win prizes. Thus, it is a form of charitable gambling. A drawing (also called a sweepstakes) does not require a purchase. Everyone must have an equal chance to win, whether they donate or not.

Are for profit raffles generally illegal?

While some states have almost no rules and regulations (Texas), others completely ban raffles (Alabama). But, the one consistent rule in states that do allow raffles is: only nonprofit and 501(c)3 organizations are permitted to host raffles.

What are the IRS rules for raffles?

Reporting Raffle Prizes Generally, an exempt organization must report raffle prizes if (a) the amount paid reduced, at the exempt organizations option, by the wager (the amount a person paid for the chance to win a prize), is $600 or more; and (b) the payout is at least 300 times the amount of the wager.

Are raffles considered gambling winnings?

Gambling winnings are fully taxable and you must report the income on your tax return. Gambling income includes but isnt limited to winnings from lotteries, raffles, horse races, and s.

To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period 2025

Here's how it works

How to change To be issued only for Category 1 Raffles with net profits less than $30,000 during a license period online