An End to Personal Property Tax?
MADISON, Wis. (AP) — Thirty-one trade and business associations are banding together to do away with Wisconsin's personal property tax.
Many states have long chipped away at what some call an "antiquated" tax on personal property, such as furniture, equipment and machinery. In Wisconsin, that process of exempting property from the tax has left a piecemeal structure in place that businesses say is unfair and hits small businesses disproportionately.
While many legislators agree the tax should go, there is disagreement about how to fill the $250 million hole it would leave annually for local governments.
The new Coalition to Repeal Wisconsin's Personal Property Tax, which includes major players from across the business industry, hopes to increase pressure to find a solution and repeal the tax entirely.