Advertisement

Analysis: Wisconsin Could Get $120 Million in Internet Taxes

A new analysis shows Wisconsin could rake in an additional $90 million in internet sales taxes this fiscal year if lawmakers decide to start collection this fall. A new analysis shows Wisconsin could rake in an additional $90 million in internet sales taxes this fiscal year if lawmakers decide to start collection this fall. |  Photo: WDIO/MGN

Created: July 03, 2018 12:36 AM

MADISON, Wis. (AP) - A new analysis shows Wisconsin could rake in an additional $90 million in internet sales taxes this fiscal year if lawmakers decide to start collection this fall.

Advertisement – Content Continues Below

The U.S. Supreme Court last month upheld South Dakota's plan to collect online sales taxes, clearing the way for other states.

A Legislative Fiscal Bureau analysis released Monday found if Wisconsin legislators made regulatory changes in time to start collection by Oct. 1, the state would take in $90 million by mid-2019 and $120 million the following year.

State law requires an equal cut in income taxes if federal law requires collecting online sales taxes. It's unclear if the court decision technically is a change in federal law, but if Wisconsin implemented collection under 2017 rates taxpayers would save an average $52.

Copyright 2018 The Associated Press. All rights reserved.

Advertisement
Advertisement
Relay Media Amp

Mesabi Metallics Petitions Court for Right to Mine

USW: Time is Running Out With U.S. Steel

4 Injured in Shooting at Suburban Madison Business

City of Chisholm, Ironbound Studios Celebrate Reaching Settlement Agreement

'It's About Time': Red Cliff Community Highlights Need for Cell Phone Tower

Arrest Made in July House Party Shooting

Advertisement