Some Wisconsin counties and towns may additionally apply a local sales tax on top of the state’s 5% sales tax. For instance, Milwaukee County has a municipal sales tax of 0.5%, making the region’s overall sales tax rate 5.5%. It’s necessary to check the precise place to find out the local sales tax rate because other counties and municipalities could have different local rates. State taxes in Wisconsin
Wisconsin has a progressive income tax system, which means that tax rates climb in line with income levels. The tax rates for the 2020 tax year range from 3.54% to 7.65%. Wisconsin also levies a 7.9% corporate income tax. The average effective property tax rate in Wisconsin is 1.76%, which is higher than the average in other states. United States’ Highest and Lowest Sales Tax Rates
It’s crucial to keep in mind that state and municipal taxes might differ significantly based on location when comparing sales tax rates across the United States. California, with a 7.25% statewide sales tax rate, has the highest rate as of 2020, though. In some regions of California, the highest combined sales tax rate can exceed 10.25% when local taxes are taken into account. However, five states—Alaska, Delaware, Montana, New Hampshire, and Oregon—do not levy a statewide sales tax, making their combined sales tax rate 0%.
Five states—Hawaii, Maine, Virginia, Wyoming, and Wisconsin—have the lowest statewide sales tax rate at 5%. As was already indicated, municipal taxes in some sections of these states may result in a higher overall sales tax rate.
In conclusion, Wisconsin’s 2020 sales tax rate is 5%, but because various local taxes may be levied, the overall sales tax rate may be higher. A progressive income tax system and unusually high property tax rates as compared to other states are also features of Wisconsin. The total tax rate might vary significantly depending on location, therefore it’s crucial to take both statewide and municipal taxes into account when comparing sales tax rates across the United States.