Statutes > Iowa Statutes > Title 3 - Public Services and Regulation > Subtitle 4 - Gambling > CHAPTER 99B - GAMES OF SKILL OR CHANCE, AND RAFFLES > 99B.21 - TAX ON PRIZES.

99B.21 - TAX ON PRIZES.

        99B.21  TAX ON PRIZES.
         All prizes awarded are Iowa earned income and are subject to state
      and federal income tax laws.  A person conducting a game of skill,
      game of chance, 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.
         Section History: Recent Form
         86 Acts, ch 1201, § 12; 92 Acts, 2nd Ex, ch 1001, § 232; 2003
      Acts, ch 145, §286