Friday, July 30, 2010

WI Revenue Collections Still Down v. '09


Wisconsin's individual income-tax collections popped an impressive +10% from FY '09 to FY '10 in June. Even so, individual income taxes are down 2.2% year/year, or about $125 million less.

However, the metric which tells you the most is the Sales Tax.

THAT is still off by 3.9% year/year.

Doesn't sound like much until you notice that 3.9% is one hundred forty MILLION dollars.

The corporate income tax is up by 26.9%, which may reflect the change in State law regarding reporting-basis of income.

All told, Wisconsin managed to clamber back to "even" with '09 collections, squeezing $11.1 BILLION out of its residents.

About time that we add new spending obligations--like a ChooChoo that nobody will ride!!

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