Sunday, November 30, 2008

Raise Business Taxes! That's the Ticket....Yah...

Sure. Make the climate a little less business-friendly.

Two Capitol developments suggest that Doyle and Democrats, who will control the Legislature for the next two years, will approve the so-called "combined reporting" tax structure for businesses next year. It would tax the profits of parent companies; Wisconsin now separately taxes each subsidiary company formed by those parent companies.

The last estimate said adopting combined reporting would amount to a $90-million tax increase on businesses, although two recent changes to the state tax code may lower that figure somewhat.

This year, businesses are expected to pay $720 million in taxes -- a one-year drop of 14% because of the lagging economy.

Umnnnhhhhh.....who is the.....ahhhh......blogger who insists that "businesses pay NO taxes in Wisconsin"?


capper said...

Imagine how much better off we'd all be if the business actually paid what they were supposed to. That number sure sounds big, but I wonder how it would compare if it wasn't for all the breaks, TIFs, etc.

Meanwhile, don't gripe when you get your property tax. After all, that is what you indicated you wanted.

Amy said...

Good gracious, you just don't get it. Business tax breaks are designed to ENCOURAGE business to come here.

Didn't WI offer tax breaks to Hollywood types to encourage them to make movies?

Same thing.

As for property taxes, when I actually see a tax hike that results in lower property taxes, I'll believe it. "Property tax relief" has - for too long - been a flat out lie.

Anonymous said...

I'm sure Wal-Mart will be out and out of Wisconsin come Jan. 1st, not.