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Wisconsin Taxes 2014

This is a brief description of the process of taxation in the state of Wisconsin.

Wisconsin Income Tax

  • There are four basic tax brackets which are used by the state of Wisconsin for collection of taxes from the residents of Wisconsin.
  • The four tax brackets range from 4.6% to 6.75%.
  • There are two major categories of taxpayers – single and married.
  • The same tax rates are applied to both the above groups, but the lower exempt limit varies for each bracket according to whether the taxpayer is single or married.
  • Income tax in Wisconsin is due on the 15th of April each year. If the 15th falls on a weekend or a public holiday, then the taxpayers can file their returns on the next business day without incurring any penalty.
  • A benefit known as “Earned Income Tax Credit” is available to working families with children. This can be claimed by filing Form 1 or 1A.

Wisconsin Sales Tax

  • Sales tax is charged in Wisconsin at the rate of 5%.
  • An additional 0.5% is collected on the county level.
  • Another tax known as “use tax” is levied on sale of certain items such as different vehicles like boats, mobile homes up to 45 feet long, snowmobiles aircraft and all terrain vehicles.

Wisconsin Property Tax

  • Most commonly, real property tax is imposed on real or residential properties within the state of Wisconsin.
  • There is no property tax levied on vehicles but an annual registration fee is collected.
  • The Division of State and Local Finance (SLF) is the department which establishes equalized values of various properties.
  • Equalized values refer to a sort of average rate of property in the market in order to establish a more egalitarian structure of property tax rates.
  • Equalized rates do not apply to agricultural land, where property tax relief is provided to farmers. This is done by valuing agricultural land on the basis of its usefulness.
  • The official website of the Department of Revenue, Wisconsin will provide the relevant information regarding the equalization value of properties.
  • There are two programs which assist people with their property tax. These programs are the Property Tax Deferral Loan Program and the Homestead Credit.

Wisconsin Estate and Inheritance Tax

  • There is no inheritance tax imposed in the state of Wisconsin.
  • Estate tax is collected on a state level and the forms for filing this return can be obtained from the Department of Revenue.

Where to mail FEDERAL IRS tax forms within Wisconsin:

IRS Form If you ARE NOT enclosing a payment, use this address: If you ARE enclosing payment, use this address:
1040: Department of the Treasury
Internal Revenue Service
Fresno, CA  93888-0002
Internal Revenue Service
P.O. Box 802501
Cincinnati, OH 45280-2501
1040A: Department of the Treasury
Internal Revenue Service
Fresno, CA  93888-0015
Internal Revenue Service
P.O. Box 802501
Cincinnati, OH 45280-2501
1040EZ: Department of the Treasury
Internal Revenue Service
Fresno, CA  93888-0014
Internal Revenue Service
P.O. Box 802501
Cincinnati, OH 45280-2501

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