Report Says No State Tax On Tips, Overtime Would Cost Wisconsin $2.7 Billion
Forward Analytics finds big savings for workers, big revenue loss for the state over 10 years. A report by Forward Analytics, the research arm of the Wisconsin Counties Association, has found that eliminating state income tax on tips and overtime could cost Wisconsin $2.7 billion in revenue over the next decade. The study also found that eligible workers would see equal savings over the same period. The proposal would reduce state income taxes for Wisconsin workers who earn tips and OT by a combined $2.,76 billion between 2028 and 2037, meaning the state would lose that amount in revenue. Both candidates for governor, Republican U.S. Rep. Tom Tiffany and Democratic Milwaukee County Executive David Crowley, have expressed support for eliminating taxes on tips, overtime. The policy's tax benefit would vary across income levels, with workers making between $85,000 and $132,000 annually seeing the biggest benefit.
Publié : il y a 2 jours par Joe Schulz dans Politics Finance
Forward Analytics finds big savings for workers, big revenue loss for the state over 10 years.
Eliminating state income tax on tips and overtime could cost Wisconsin $2.7 billion in revenue over the ... [4315 symbols]
Les sujets: Taxes
