MADISON – Wisconsin Manufacturers & Commerce (WMC) – the combined state chamber and manufacturers’ association – urged Gov. Tony Evers to sign Assembly Bill 191 on Wednesday. The bill, which garnered bipartisan support, would repeal the state’s personal property tax and save Main Street businesses roughly $200 million. Following passage of the bill by the state Assembly and Senate, WMC General Counsel and Director of Tax, Transportation & Legal Affairs Cory Fish released the following statement:
“It is time to fully repeal Wisconsin’s personal property tax, one of the state’s most archaic taxes that pre-dates statehood. Over the last 170 years, the legislature has created a myriad of exemptions to the tax resulting in uneven enforcement, frequent audits and litigation. For many small businesses, complying with the recordkeeping costs associated with the tax can be more expensive than the tax itself. We applaud the bipartisan support of the bill and urge Gov. Evers to sign it, eliminating the tax – just as Minnesota, Iowa, Illinois and Michigan have already done.”
