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.

Former §99B.8 repealed by 2015 Acts, ch 99, §47

86 Acts, ch 1201, §12 C87, §99B.21 92 Acts, 2nd Ex, ch 1001, §232; 2003 Acts, ch 145, §286; 2015 Acts, ch 99, §35, 56 C2016, §99B.8 2023 Acts, ch 115, §13