Tag Archives: WI Department of Revenue (DOR)

New state revenue estimates up sharply, but increase is mostly one-time money

Yesterday, the non-partisan Legislative Fiscal Bureau (LFB) released updated revenue estimates indicating the state will end the 2017-19 budget cycle with an estimated ending balance of $928.7 million, $312.2 million higher than had been forecast earlier.

That is positive news as the additional revenue could be used to increase state aid to schools. However, because most of the additional $753 million in state revenue will be collected in the current fiscal year that ends June 30, achieving such aid increases will require strong advocacy from school leaders, parents and other education proponents.

In a memo to the JFC Co-Chairs, the LFB said: “Based on our review of collections data and the economic forecast, we now believe that general fund taxes will be higher than the previous estimates by $592 million in 2018-19, $68 million in 2019-20, and $93 million in 2020-21. The three-year increase is $753 million, or 1.5%.” Continue reading New state revenue estimates up sharply, but increase is mostly one-time money

Back-to-School Sales Tax Holiday is August 1-5, 2018

The state’s Back-to-School Sales Tax Holiday starts August 1, 2018 and runs through August 5, 2018, during which time sales tax will not be charged on school supplies where each item is $75 or less, clothing where each item is $75 or less, computers where each item is $750 or less, and computer supplies where each item is $250 or less.

For more information on what is eligible and answers to frequently asked questions see the Wisconsin Department of Revenue Sales Tax Holiday website.

DOR: Apply for $100 child sales tax rebate beginning May 15

From the Wisconsin Dept. of Revenue (DOR):

What is the Child Sales Tax Rebate?

It is a $100 rebate for sales and use tax paid on purchases made for raising a dependent child in 2017.*

You may claim $100 for each qualified child. 

Who can claim the Child Sales Tax Rebate?

If you have a qualified child, you’re likely eligible. A child may only be claimed by one individual.  Continue reading DOR: Apply for $100 child sales tax rebate beginning May 15