Quantcast
Home / Government / Wisconsin Assembly approves online tax bill, income-tax reductions (UPDATE)

Wisconsin Assembly approves online tax bill, income-tax reductions (UPDATE)

MADISON, Wis. (AP) — The state Assembly has approved a bill that would require online vendors like Amazon to collect and remit sales taxes from third-party sellers in perpetuity, a change that could lead to income-tax reductions.

Under the bill, revenue from the tax collections would be used to cover reductions in the lowest- and second-lowest income tax brackets. According to the Legislative Fiscal Bureau, taxpayers could expect an average reduction of $27 for tax year 2019 and an average reduction of $59 in tax year 2020 under the new rates.

The Assembly passed the bill Thursday afternoon on a voice vote. The measure goes next to the state Senate.

Coupled with an income tax cut plan Republicans inserted in the state budget, taxpayers could expect a total annual reduction of $91 in 2019 and $124 in 2020.

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Leave a Reply

Your email address will not be published. Required fields are marked *

*