MADISON, Wis. (AP) — A new report shows the state collected slightly more in taxes during the last fiscal year than the previous year.
The Legislative Fiscal Bureau released an analysis Monday that shows the state collected about $17.3 billion in the year that ended June 30, 2019. That figure is up 7.4% from the year that ended June 30, 2018.
Income taxes totaled nearly $9 billion and sales taxes totaled $5.7 billion.
A 2018 state law that allows the Department of Revenue to collect online sales tax for retailers who lack a physical presence in Wisconsin to exclude those taxes from final revenue calculations. Under that law, tax collections from 2018-19 were about $17.2 billion, $75.5 million more than the fiscal bureau projected in May 2019 that the state would take in.
Author: News Desk
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