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Below is a snapshot of key features of Wisconsin's tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $34.6 billion
- General Revenue as a Share of Income: 16.5%
- Tax Revenue: $24.4 billion
- Tax Revenue as Share of income: 11.6%
- Personal Income Tax (Share of Tax Revenue): 27.2% (16 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 3.5% (29 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 27.5% (39 out of 51)
- Property Tax (Share of Tax Revenue): 36.2% (10 out of 51)
- Other Taxes (Share of Tax Revenue): .8% (43 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: 4.6% - 7.75%
- Standard Deduction: $9,410 ($16,940 for Married Couples)
- Personal Exemption: $700
- Dependent Exemption: $700
- Earned Income Tax Credit (EITC): 4% -- 34% Refundable
- Notable capital gains preference
- Standard deduction phases out for high income levels
Corporate Income Tax Features (2011)
- Range of Tax Rates: 7.90%
- Income Level at Which Top Rate Applies: All
- Combined Reporting: Yes
- Apportionment Factor (Payroll): 0%
- Apportionment Factor (Property): 0%
- Apportionment Factor (Sales): 100%
Sales Tax Features (2011)
- State Sales Tax Rate: 5.00%
- Average Local Sales Tax Rate: 0.40%
- Average Combined State & Local Sales Tax Rate: 5.40%
- State Sales Tax Treatment of Groceries: Exempt
- Local Sales Tax Treatment of Groceries: Exempt
- Number of Services Taxed: 76 out of 168 surveyed
- Streamlined Sales Tax Membership: Full
- Vendor Compensation available without ceiling
Property Tax Features (2011)
- Provides a circuit breaker for homeowners and renters of all ages
- Provides a non-refundable income tax credit (up to $300) designed to offset property taxes paid.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.329
- Diesel Tax Rate (per gallon): $0.329
- Cigarette Tax Rate (per pack): $2.52
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: $85
Tax Policy Oversight
- Tax Expenditure Report: Yes
- Tax Incidence Analysis Capability: Personal income tax only
Last Updated August 25, 2011
Sources & Glossary
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