Wisconsin Assembly Approves Bill Requiring Online Vendors to Collect and Remit Sales Taxes from Third-Party Sellers
Friday, June 21st, 2019 -- 8:49 AM
(AP) -The state Assembly has approved a bill that would require online vendors like Amazon to collect and remit sales taxes from third-party sellers in perpetuity, a move that would trigger income tax cuts.Under the bill, revenue from the tax collections would be used to cover reductions in the lowest- and second-lowest income tax brackets. According to the Legislative Fiscal Bureau, taxpayers could expect an average reduction of $27 for tax year 2019 and an average reduction of $59 in tax year 2020 under the new rates.
The Assembly passed the bill Thursday afternoon on a voice vote. The measure goes next to the state Senate. Coupled with an income tax cut plan Republicans inserted in the state budget, taxpayers could expect a total annual reduction of $91 in 2019 and $124 in 2020.
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