Archaic Law Undue Burden on Businesses
MADISON – Wisconsin should repeal its outdated tax on personal property for businesses to lower the tax burden and to provide tax fairness in the state, WMC said Thursday.
WMC, the state’s chamber of commerce, is asking the Legislature to repeal the tax largely payed by non-manufacturers on business equipment. The tax collects about $270 million annually and is only 2.5 percent of property taxes levied.
WMC Vice President of Government Relations Scott Manley said:
“Wisconsin needs to end this antiquated tax on personal property for businesses just as we ended it for individuals and homeowners and manufacturers and farmers. Businesses spend far too much time and money to comply with the law and we need to end the tax to make Wisconsin more competitive. The business community would like to thank Rep. Bob Kulp and Sen. Tom Tiffany for bringing this needed legislation forward.”
For Further Information Contact:
Scott Manley, (608) 258-3400
Jason Culotta, (608) 258-3400
###
