Iowa Code § 99B.8

Current through March 29, 2024

Section 99B.8 - Tax on prizes

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 2, 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.

Iowa Code § 99B.8

86 Acts, ch 1201, §12 92 Acts, 2nd Ex, ch 1001, §232; 2003 Acts, ch 145, §286; 2015 Acts, ch 99, §35, 56 2023 Acts, ch 115, § 13

Amended by 2023 Iowa, ch 115, s 13, eff. 7/1/2023.

Renumbered from Iowa Code s 99B.21 by 2015 Iowa, ch 99,s 56, eff. 7/1/2015.

Amended by 2015 Iowa, ch 99, s 35, eff. 7/1/2015.

86 Acts, ch 1201, §12; 92 Acts, 2nd Ex, ch 1001, § 232; 2003 Acts, ch 145, §286

Former §99B.8 repealed by 2015 Acts, ch 99, §47

Section amended