August 12, 2018

WE ARE ALL NEOCONOMIST NOW:

Wisconsin May Cut Income Tax Rates to Offset Rise in Online Sales Tax Revenues (Michael Carroll, August 12, 2018, Free Beacon)

Income tax filers in Wisconsin may soon reap benefits from a recent U.S. Supreme Court decision requiring that more out-of-state online retailers collect and remit sales taxes on purchases.

Remote sellers that conduct at least 200 annual transactions - or annual sales topping $100,000 - in Wisconsin will have to collect state sales taxes, the court ruled recently in South Dakota v. Wayfair Inc. The ruling in June overturned a previous high court decision that said such taxes need not be collected by online retailers unless they had a physical presence in the state where they were doing business.

In a report sent to members of the state legislature, the Wisconsin Legislative Fiscal Bureau pointed out that current state law may require the additional sales tax revenues received as a result of the court decision be used to reduce income tax rates. Under that scenario, the average Wisconsin income tax filer would see a tax reduction of $52 annually, according to the bureau's report.

That idea now has the endorsement of Gov. Scott Walker.

There's his 2020 platform--tax consumption, not income.

Posted by at August 12, 2018 7:42 AM

  

« NO HOUSE FOR SIR VIDIA: | Main | DOING WHAT HE WAS HIRED TO DO: »