Senate Kills Business Equipment Tax, Sends Bill to Evers
The state Senate has sent a bill that would eliminate a tax on business equipment to Gov. Tony Evers.
The measure would eliminate the so-called personal property tax, a tax business pay on items such as furniture and machinery, on Jan. 1, 2022.
The Senate passed the measure Wednesday and sent it on to Evers. The Assembly passed the bill late Tuesday night.
The state budget includes includes $202 million for local governments to offset the lost revenue.
Assembly Republicans amended the bill Tuesday to backfill the state transportation fund with $20 million this fiscal year and $44 million every subsequent fiscal year to offset the loss of tax revenue from railroad equipment.