Wisconsin Tax Deductions
Wisconsin offers taxpayers the opportunity to take a standard deduction. Standard deduction amounts are based on your taxable income and filing status. For the 2021 tax year, your allowable standard deduction will fall within one of the following ranges:
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The maximum Wisconsin standard deductions for single taxpayers is $10,860, and $20,110 for married filing jointly. Wisconsin standard deductions phases out at higher income.
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Unlike many other states, Wisconsin has no standard deduction. Certain itemized deductions (including property tax, qualified charitable contributions, etc) may be allowed depending on the income level and filing type of the taxpayer.
The standard deduction is available by default to all taxpayers who do not file an itemized deduction. It translates to $12,760.00 per year of tax-free income for single Wisconsin taxpayers, and $23,620.00 for those filing jointly.
Wisconsin offers tax deductions and credits to reduce your tax liability, including a standard deduction, a deduction for qualified adoption expenses, and a tax credit for college tuition expenses.
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For a single individual who has a Wisconsin adjusted gross income of less than $10,380, the standard deduction is $7,200.
Wisconsin State Taxes Overview
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Wisconsin does not have a personal exemption or dependent deduction.
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What is Wisconsin tax bracket for 2023?
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The top individual state income tax bracket for 2023 is 7.65 percent. Most people pay 5.3 percent. Sales taxes average 5.43 percent statewide as of January 2023. Groceries are exempt but prescription drugs and feminine hygiene products are taxable.
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Federal income tax brackets for 2023 and 2024 range from 10 percent to 37 percent. Nearly $40,000 more individual income will be taxed at 35 percent instead of 37 percent in 2023. State income taxes help fund education, healthcare, and infrastructure in Wisconsin.
Itemized Deductions
- Does Wisconsin have itemized deductions?