Wisconsin S Corporation Taxation Overview
Wisconsin recognizes the federal S election. Wisconsin S corporations generally are not required to pay corporation franchise tax to the state. However, each shareholder will pay tax on his or her portion of the corporation’s net income. The Wisconsin sales tax rate is 5%. Depending on local municipalities, the total tax rate can be as high as 5.6%.
Recent Political Developments in Wisconsin
- The 10 fake electors from Wisconsin disavowed their attempt to overturn Donald Trump’s defeat in 2020. They recognized the legitimacy of President Joe Biden’s victory and pledged not to serve as real electors in 2024 or any election when Trump is on the ballot. They also pledged not to act as sham electors in any future election. This was part of a civil lawsuit settlement announced on Wednesday.
- A regularly scheduled mayoral election was held in Oshkosh, Wisconsin, concurrent with the Spring general election on April 4, 2023. Incumbent mayor Lori Palmeri did not run for re-election, after being elected to the Wisconsin State Assembly in 2022. Deputy mayor Matt Mugerauer defeated fellow city councilmember Aaron Wojciechowski in the general election.
Upcoming elections and political activities in Wisconsin
- Explore below to see when the Republican and Democratic primaries are taking place and to view live results in Wisconsin. Find out who won the Wisconsin primary race and check the full 2024 Primary election schedule. The Democrats race will take place on April 2, 2024 with 82 delegates.
- Wisconsin’s top elections official who has faced GOP criticism for how she ran the 2020 presidential election is up for re-appointment. She is pushing for officials to vote on her future as she nears the end of her term. She calls for stability and defends her record.
Legal and Election Issues in Wisconsin
- The 2023 Wisconsin Supreme Court election is April 4. The election will determine a new justice as well as other local, nonpartisan offices. Polls are open 7 a.m. to 8 p.m. All eligible voters in line at 8 p.m. will be able to vote. Daniel Kelly vs Janet Protasiewicz are candidates in the race.
- In Wisconsin, Assemblymembers were presented with a Resolution To Reclaim that details evidence of fraud, discrepancies, and violation of election laws during the 2020 Presidential Election. Rep. Timothy Ramthun called for a point of order on Tuesday asking for a privileged resolution to decertify the election. He became the first lawmaker to join this cause.
- The Republican-controlled Wisconsin Senate voted to fire the head of the state’s elections agency. They cited the need to restore citizens’ trust in elections following Wisconsin’s messy 2020 election. “We need to rebuild faith in Wisconsin’s elections,” said Senate Majority Leader Devin LeMahieu.