"The first 100 people to walk in to ABC Branch will receive X" - is this allowable? Not a drawing, open to all and a minimal prize. I found a lot of discussions on this but nothing that exactly matched this scenario... Nothing found on simple giveaways.

Also, If we might present other prizes through the year that could take an individual to $600 do we need to obtain reporting information?

Curious too, does it make a difference if it is only on social media? Since there is no element of chance I feel it doesn't meet a lottery or sweepstakes definition but want to be sure.

You need to research your State laws.

Follow up question: If we're state registered bank in X, and are offering the promotion in one branch in Z - which state law would apply, X or Z?

Thanks for such a quick response Randy! Do you have thoughts on the $600 reporting?

It would be the State law in which you are offering the gifts. Gifts to any one person for $600 or more require that a 1099MISC be completed.

Thank you so much! Both states appear to allow it but I wanted to know exactly who would be the one to officially rely on. Appreciate your help!

Are you able to work with your legal dept. to determine?

I'm the closest thing to a "legal department".