Our own Steve Mueller recently testified before the Joint Finance Committee in Madsion concerning personal property property taxes. Please take a moment to read about the personal property tax issue and Steve’s testimony.
Why Wisconsin Personal Property Tax is Unfair
As many business owners and managers know, Wisconsin Personal Property Tax can be a real knife in the back at the start of the New Year.
By January 31st every year companies must pay a tax to the municipality they are located in for all the contents in their buildings and shops that are not inventory or manufacturing related. In fact, much of business owners’ property gets taxed for up to twice as long as what the federal government depreciation schedules allow.
To prove how unfair this tax is, did you know that equipment on one side of the road can be considered “exempt” when compared to the exact same equipment on the other side of the road? This is 100% true- let me share a real example. If a grading contractor or a landscaping firm is on one side of the road and a farmer is on the other, the farmer pays no personal property tax on his tractor while the first two companies will pay Personal Property Tax on that exact same tractor for 10+ years.
I realize and appreciate we must all pay taxes to support this great state, where I have lived for over 50 years, but the state of Wisconsin has got to figure out a more equitable way to tax companies who contribute equally to society but are taxed so differently.
I feel so strongly about this inequality that I invested a day in Madison waiting around to testify in front of the Joint Finance Committee. Although I was there for 5 hours and I spoke for less than 15 minutes, I felt it was my duty to speak up on an issue that is simply unfair.
I would recommend you call one or all of the following on the Finance Committee and mention /discuss these talking points. Personal
Property Tax Calls to:
Speaker Vos: 608-266-3387
Rep. Nygren: 608-266-2343
Rep. Kooyenga: 608-266-9180
- I’m calling to remind you how important repeal of the personal property tax is to my business.
- Small businesses need assistance now—online competition is forcing many traditional retailers to close because they cannot compete. Repeal of PPT helps to level the playing field.
- The Legislature has created an extremely unfair tax by allowing so many exemptions. Essentially, they have selected the winners and losers in the business community and those left paying are the losers.
- PPT repeal will: Allow businesses to hire new employee, buy a scoreboard for the local baseball diamond, purchase new equipment. Income tax relief won’t create jobs.
- At a minimum, consider eliminating the PPT on new equipment with a phase-out of the remaining tax.