Newsmakers: Wisconsin Income Tax Reform
On June 26, a committee of eight legislators will begin discussing how to simplify Wisconsin’s individual income tax, which will bring in $6.82 billion this year — more than half of all general-fund taxes. In a June 21 Newsmakers, Republican Rep. Dale Kooyenga, a CPA, who will co-chair the panel, and Todd Berry, president of the nonpartisan Wisconsin Taxpayer Alliance, discussed ways the personal income tax could be reformed and how years of special-interest credits, deductions and tax breaks have made the tax code too complex for most taxpayers. In 2010, there were 2.86 million tax filers in Wisconsin, and 69% of them had tax liability and 31% did not.
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