If you are a Wisconsin resident under the age of 65 and you accumulated more than $10,110 in income then you will be required to file a state tax return. If you are 65 or older and accumulated more than $10,360 then you too will be required to file. For those married filing jointly under the age of 65 who accumulated more than $18,340 you will be required to file and if one spouse is over the age of 65 then the threshold jumps to $18,590 and if both spouses are older than 65 then the threshold jumps to $18,840. If you are a part-time resident or non-resident that accumulated more than $2,000 in income from a source within Wisconsin then you will be required to file a state return as well. There are some other requirements as they relate to being the head of the household or a dependent so look those conditions up before getting ahead of yourself.
Wisconsin has both a sales and income tax and the income tax brackets look like this:
$0 – $10,180 – 4.6%
$10,180 – $20,360 – 6.15%
$20,360 – $152,740 – 6.5%
$152,740 – $224,210 – 6.75%
$224,210+ – 7.75%
$0 – $13,580 – 4.6%
$13,580 – $27,150 – 6.15%
$27,150 – $203,650 – 6.5%
$203,650 – $298,940 – 6.7%
$298,940+ – 7.75%
The Wisconsin standard deduction is substantially complicated when compared to other states so look up the calculation method to help yourself determine what your standard deduction will look like. You can take a personal exemption of $700 as a single filer and $1,400 if you’re married and filing jointly. You can also take an exemption of $700 for each qualifying dependent.
Wisconsin implements a 5% sales tax on most goods besides food and prescription drugs. Counties have the ability to levy an addition tax which in Wisconsin typically amounts to an additional .5%. The gasoline excise tax in Wisconsin is 32.9 cents per gallon and that’s the same for the diesel fuel as well. The cigarette excise tax is a steep $2.52 per pack.
If you have any questions or need to get a hold of any tax forms that you’ll need then you should refer the Wisconsin Department of Revenue’s website where you can get all the relevant information that you need. Like most states, Wisconsin would like to encourage you to e-file your tax return to save money and time for everyone. This will also reduce the amount of paper waste.