Wisconsin's income tax rates range from 4.6 percent to 6.75 percent over four income tax brackets. More on Wisconsin taxes can be found in the tabbed pages below.
Income
Sales
Property
Estate
Other
Personal income tax
Wisconsin collects income taxes from its residents utilizing four tax brackets.
For single taxpayers, they are: -- 4.6 percent on the first $9,700 of taxable income -- 6.15 percent on taxable income between $9,701 and $19,400
-- 6.5 percent on
taxable income between
$19,401 and $145,460
-- 6.75 percent on taxable
income of $145,461 and
above.
For married taxpayers filing joint returns, taxes are assessed at: -- 4.6 percent on the first $12,930 of taxable income -- 6.15 percent on taxable income between $12,931 and $25,860
-- 6.5 percent on
taxable income between
$25,861 and $193,950
-- 6.75 percent on
taxable income of
$193,951 and above.
Wisconsin's tax returns are due on April 15 or the next business day if that date falls on a weekend or holiday.
Wisconsin offers an Earned Income
Tax Credit to its residents. This credit provides direct benefit
to working families with qualifying children. The benefit amount
depends on the total household income and the number of children.
To claim this credit, taxpayers need to file an income tax return
using the Wisconsin Form 1 or 1A.
Sales tax
Wisconsin has a sales tax of 5 percent.
Sixty-one counties have an additional
sales tax of 0.5 percent. Retailers who make sales subject to
applicable county
taxes must collect 5.5 percent sales tax on their retail
sales.
Sales of motor vehicles, boats,
snowmobiles, mobile homes 45 feet or less in length, trailers,
semi-trailers, all-terrain vehicles and aircraft are subject
to the county use tax rather than county sales tax.
Personal and real property taxes
The most common property tax assessed
on Wisconsin residents is the real
property tax, or their residential property tax. Wisconsin
does not impose a property tax on vehicles, but does levy an
annual registration fee.
The Division of State and Local
Finance (SLF) is responsible
for establishing the state's
equalized values; assessing
all manufacturing and telecommunication
company property for property
tax purposes; assessing
and collecting taxes on
utilities, railroads, airlines,
mining and other special
properties; and providing
financial management and
technical assistance to
municipal and county governments.
It also administers the
state shared revenue, property
tax relief payments for
municipal services and the
lottery credit program,
the tax incremental financing
programs, along with providing
property assessment administration
and certification of assessment
personnel.
Equalized values are based on the
full market value of all taxable property in the state, except
for agricultural land. In order to provide property tax relief
for farmers, the value of agricultural land is determined by
its value for agriculture uses, rather than for its possible
development value.
Equalized
values are used to distribute
state aid payments to counties,
municipalities and technical
colleges. Assessments prepared
by local assessors are used
to distribute the property
tax burden within individual
municipalities. You can find your county's
or municipality's equalized
value on the Department
of Revenue's Web site.
Details
on Wisconsin's property tax
system can be found in the
Department of Revenue's Guide
for Property Owners.
Wisconsin
has two programs to help
people with their property
taxes: the Homestead
Credit and the Property
Tax Deferral Loan Program.
The credit is income-based
and available to renters
as well as homeowners.
Further information about
the Homestead Tax Credit
is available by calling
the Department of Revenue
at (608) 266-8641.
The loan program is
operated by Wisconsin
Housing and Economic
Development Authority,
or WHEDA, and provides
loans to qualifying
elderly homeowners to
help pay for property
taxes. Details can be
obtained by calling
WHEDA toll-free at (800)
755-7835.
Inheritance and estate taxes
Wisconsin does not collect inheritance
taxes.
Wisconsin's estate tax is decoupled
from the federal estate tax laws and therefore still imposes
its own estate
tax. Forms can be found on the Department of Revenue Web site.
Wisconsin's
income tax was enacted in
1911 and state officials
say it is the oldest successful
income tax law in the nation,
preceding the federal tax
system by two years. Its
original purpose was to
tax the value of intangibles,
such as stocks, bonds and
money, which escaped property
taxation because of assessment
difficulties. Intangible
property was exempted from
the property tax when the
income tax was created.
For
more information, contact the Wisconsin
Department of Revenue at (608) 266-1911
or visit its Web
site.
To download
tax forms on this site, you will need to install a free copy
of Adobe Acrobat Reader. See the Adobe Web site for instructions.