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Bill > SSB1152
IA SSB1152
IA SSB1152A bill for an act relating to state income tax withholdings on winnings from sports wagering, and including effective date provisions.(See SF 605.)
summary
Introduced
02/18/2025
02/18/2025
In Committee
02/18/2025
02/18/2025
Crossed Over
Passed
Dead
Introduced Session
91st General Assembly
Bill Summary
This bill specifies all winnings from sports wagering are S.F. _____ H.F. _____ considered Iowa earned income and subject to Iowa and federal income tax laws. If sports wagering winnings are subject to federal income tax withholding, the bill requires Iowa state income tax be withheld from the winnings. The bill takes effect on January 1, 2026.
AI Summary
This Study Bill clarifies that all winnings from sports wagering in Iowa will be treated as income earned within the state and will be subject to both Iowa and federal income tax laws, aligning with existing tax regulations for other forms of gambling winnings. Specifically, if federal income tax is required to be withheld from sports wagering winnings, this bill mandates that Iowa state income tax must also be withheld from those same winnings, ensuring consistent tax collection. This change, which applies to winnings from sports wagering authorized under chapter 99F, will take effect on January 1, 2026.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Ways & Means (Senate)
Last Action
Committee report approving bill, renumbered as SF 605. (on 03/11/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SSB1152 |
| BillText | https://www.legis.iowa.gov/docs/publications/LGI/91/attachments/SSB1152.html |
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