State Sales Tax Revenue Dropped in March Compared to the Year Prior

Thursday, August 1st, 2024 -- 10:00 AM

(Bob Hague, Wisconsin Radio Network) According to the Wisconsin Policy Forum, sales tax revenue dropped 2.3% in March compared to March of 2023.

According to Bob Hague with the Wisconsin Radio Network, slowing sales tax growth and even declines were seen in key sectors like retail, food service, wholesale trade and manufacturing.

Even though inflation has slowed, it’s still above where it was throughout the 2010s, making the recent slowing of sales tax revenue more notable, according to the report.

WPF Policy Researcher Mark Sommerhauser says in some of Wisconsin’s bigger counties, the impact of remote work and generational pivots toward online shopping could be driving declines in sales tax revenue.

Almost half of the sectors that report sales taxes saw a decline in the first half of this year.

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