Wisconsin

Sales Tax

  • Statewide: 5.0%
  • Counties can levy an additional sales tax of no more than 1.75%
  • Current average sales tax (with local taxes included): 5.48%
  • Common Exceptions at State Level:
    • Prescription Medicine: Exempt
    • Unprepared Foods: Exempt
  • Gasoline Tax: 51.30 cents/gallon (Includes all state, local, and federal taxes)
  • Diesel Fuel Tax: 57.30 cents/gallon (Includes all state, local, and federal taxes)

 

Personal Income Tax

  • Personal Income Tax Rate Range: Four brackets from 3.54% to 7.65% (on income over $304,170)
  • Standard deduction: Single Filing Status: $12,760. Married Filing Jointly: $23,620, subject to phase-out
  • Personal Exemption Allowance: $700. Dependent Exemption: $700
  • Itemized Deductions Allowed? Yes, subject to limitations.
  • Retirement Income
    • Social Security: Exempt
    • 401Ks/Defined contribution employer retirement plans: Taxable at ordinary income tax rates*
    • Private pensions: Taxable at ordinary income tax rates*
    • Public Pensions: Some are exempt*
  • Military Pay
    • Active Duty Pay: Taxable to the extent included in federal Adjusted Gross Income except for National Guard and reservist pay, which is exempt. May also be eligible for $300 tax credit.
    • Military Retirement Pay: Exempt
    • Military Disability Pay: Exempt
    • VA Dependency & Indemnity Compensation Benefits: Exempt
    • SBP/SSBP/RCSBP/RSFPP: Exempt
Income tax comments: *Retired taxpayers may be eligible for a tax credit. If 65 and over, may deduct $5,000 of retirement income if federal AGI is less than $15,000 ($30,000 if married filing jointly).

 

Property Tax

  • Local municipalities average 1.73% of the property's assessed value.
  • Calculation of assessed value: Varies by county
  • Relief programs for:
    • Owner-occupied: Credit up to $1,460 if income less than $24,860.
    • Disabled Veterans/Surviving Spouses: May be eligible for exemption if 100% service-connected disability.
    • School Property Tax Credit: Based on property's assessed value as a percentage of municipality's total assessed value. Cannot exceed $300.
    • 65 and over: Deferral programs available if income under $20,000 through the Wisconsin Housing and Development Authority.
  • Personal Property Tax: Yes. Rates and exemptions vary.

 

Inheritance & Estate Taxes: None

 

Department of Revenue website: www.revenue.wi.gov

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