- Goods subject to sales tax in Wisconsin include physical property and motor vehicles.
- Services like admission to entertainment venues are taxable.
- Prescription medicine, groceries, and gasoline are tax-exempt.
Taxation in Wisconsin
- Wisconsin offers tax benefits for seniors and does not tax Social Security.
- The income tax rate ranges from 3.5% to 7.65% across 4 brackets with most people paying 5.3%.
- Real estate taxes average 1.61% of a home’s value.
Tax Process in Wisconsin
- When filing taxes, Wisconsin provides tables and brackets.
- Taxpayers can take the standard deduction or itemize.
- Some services like maintenance contracts are taxable if not reimbursed.
- To get tax exemption, firms and retailers file Form S-211.
Goods like physical property and motor vehicles are subject to sales tax in Wisconsin. Services like admission to entertainment venues are also taxable. However, prescription medicine, groceries, and gasoline are exempt from sales tax. The state sales tax rate is 5%. However, sales tax rates vary across cities in Wisconsin. The highest rate is 6.75% in some cities. Sales tax applies based on the buyer’s address.
Wisconsin provides tax benefits for seniors and does not tax Social Security. The income tax rate ranges between 3.5% and 7.65% across 4 brackets. Most people pay 5.3% income tax. Real estate taxes in Wisconsin average 1.61% of a home’s value.
When filing income taxes, Wisconsin has tables and brackets. Taxpayers can take the standard deduction or itemize. Some services like maintenance contracts are taxable if not reimbursed by an employer. To get sales tax exemption, firms and retailers must file Form S-211. In summary, Wisconsin collects sales tax on goods and services and has 4 income tax brackets.