Analysis Shows Benefit of Internet Sales Tax
A new analysis released this week shows Wisconsin could pull in an additional $90 million in internet sales taxes this fiscal year, if collection begins this fall. A Supreme Court decision last month allows states to collect online taxes. State law currently requires an equal cut in income taxes if federal law requires collecting online sales taxes – and while it’s unclear whether the decision is technically a change in federal law, Wisconsin collections implemented under 2017 rates would save taxpayers an average of $52. Governor Walker says any additional sales tax collected from online sales will be offset with tax reductions in the state.