Taxes
Wisconsin is the 17th Best State for Business in 2013, improving from 20th in 2012. This is the third consecutive year Wisconsin has improved its ranking based on a CEO survey conducted by ChiefExecutive.net. Wisconsin saw the largest gain of any state in the history of the survey, moving 17 places from the bottom 10, from 41st in 2010 to 24th in 2011.
State Tax Rates
|
State Corporate Tax: |
7.9% |
|
State Personal Income Tax: |
4.60% to 7.75% |
|
State / County Sales Tax: |
5.6% |
Source: Wisconsin Department of Revenue, 2012
Property Tax Rates
|
|
Assessment Ratio |
Tax Roll Mill Rate (per $1,000 EAV) |
Nominal Tax Rate |
Effective Rate |
|
City of West Bend |
1.0057 |
20.37 |
0.02037 |
0.020486 |
|
City of Hartford |
1.1308 |
17.73 |
0.01773 |
0.020049 |
|
Village of Germantown |
1.0781 |
17.52 |
0.01752 |
0.018888 |
|
Village of Jackson (NW Business Park) |
1.0876 |
18.45 |
0.01845 |
0.020066 |
|
Village of Jackson (Slinger District) |
1.0876 |
19.26 |
0.01926 |
0.020947 |
|
Village of Slinger |
1.1101 |
17.96 |
0.01796 |
0.019937 |
|
Village of Richfield |
1.0336 |
14.15 |
0.01415 |
0.014625 |
|
Village of Richfield (Endeavor Business Park) |
1.0336 |
15.17 |
0.01517 |
0.015670 |
|
Village of Richfield (Beechwood Industrial) |
1.0336 |
14.22 |
0.01422 |
0.014698 |
|
Village of Kewaskum |
1.0905 |
17.91 |
0.01791 |
0.019531 |
|
Village of Newburg |
1.1093 |
16.04 |
0.01604 |
0.017793 |
Source: Washington County Treasurer, 2012
Additional Details
Individual Income Tax
There are five tax brackets for both single and married taxpayers. The top rate for both is 7.75%, beginning at income levels of $221,660 and $295,550, respectively.
Corporate Income Tax
Wisconsin’s corporate income tax is a flat rate of 7.9%.Depending on the nature of your company’s business activities an additional surcharge may apply, further details are available here.
Sales and Excise Tax
The Wisconsin sales and use tax are both 5% for consumers, which is below the national average of 5.85%.
Exemptions
- Production fuel and electricity
- Machines and specific processing equipment which are used by a manufacturer in manufacturing tangible personal property
For more information on Sales and Use Tax Exemptions, contact the Wisconsin Department of Revenue at (608) 261-6261.
The Washington County sales tax rate is .5%, and the stadium tax rate is .1%. The total amount that consumers will be charged is 5.6% on purchases.
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