Section 99B.8. Tax on prizes.

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All prizes awarded pursuant to a gambling activity under this chapter are Iowa earned income and are subject to state and federal income tax laws. A person conducting a game of skill, game of chance, bingo, or a raffle shall deduct state income taxes, pursuant to section 422.16, subsection 1, from a cash prize awarded to an individual. An amount deducted from the prize for payment of a state tax shall be remitted to the department of revenue on behalf of the prize winner.
86 Acts, ch 1201, §12
92 Acts, 2nd Ex, ch 1001, §232
; 2003 Acts, ch 145, §286
; 2015 Acts, ch 99, §35, 56
Former §99B.8 repealed by 2015 Acts, ch 99, §47
Section transferred from §99B.21 in Code 2016 pursuant to directive in 2015 Acts, ch 99, §56
Section amended

                    
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