Survey Finds Wisconsin Businesses Looking for Lower Tax Rates

Tuesday, January 31st, 2023 -- 12:00 PM

(Bob Hague, WRN) A survey of Wisconsin businesses finds many looking for lower tax rates.

Scott Manley with Wisconsin Manufacturers and Commerce says that’s especially true as firms grapple with inflation. “What we're seeing from our members is a recognition that it's a whole lot more expensive to run a business today than it was a even a year ago.”

When asked what was the one thing state government could do to improve the business climate, 34 percent said “reduce taxes.” “It's more expensive to be a small business in Wisconsin from a tax standpoint than just about anywhere else in the country”

Manley says many small businesses are paying the top individual income tax rate of 7.65% “Which happens to be in the top 10 highest income tax rates in the country. Small businesses pay that top rate, they pay that high rate.”

The top concern in the the Wisconsin Employer Survey was the worker shortage, something Manley says could be improved through lower income taxes. Significant tax reform is a goal of Republican leaders in the legislature.

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