Tax Foundation – October 9, 2009
Newly released Census data show how different the 50 states’ fiscal systems are. Their reliance on various sources of tax revenue differs widely because they have different endowed resources and policy priorities. These differences are reflected in state-local tax collections no matter how large or small a fraction of the residents’ income state and local governments have decided to take in taxes.
According to this study, Wisconsin does not rank in the top ten of states for reliance on any one type of revenue source. Here is a breakdown on the reported sources of revenue for the State of Wisconsin:
Property Taxes: 36%
General Sales Tax: 19%
Selective Sales Tax: 8.4%
Individual Income Tax: 27.1%
Corporate Income Tax: 3.9%
Licenses and Other Taxes: 5.5%
The report can be viewed at the Tax Foundation website.
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