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Monday, May 20, 2024

Unchanged individual income tax revenue in Wisconsin as of Q4 2023 compared to Q4 2022

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Secretary Peter W. Barca at Wisconsin Department of Revenue | Wisconsin Department of Revenue

Secretary Peter W. Barca at Wisconsin Department of Revenue | Wisconsin Department of Revenue

Wisconsin collected $2.7 billion in individual income taxes during the fourth quarter of 2023, unchanged from the same period in the previous year, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Individual income taxes are based on net personal income and taxes imposed on such income as dividends, interest and income from intangibles.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by state governments.

Overall, Wisconsin collected $7.3 billion in combined tax revenues in the fourth quarter of 2023.

Q4 2023 Wisconsin Tax Collections

Type of TaxAmount (in millions of dollars)
Property Taxes$49
Sales and Gross Receipts Taxes$2,827
License Taxes$357
Individual Income Taxes$2,673
Total Income Taxes$4,031
Other Taxes$29

Source: U.S. Census Bureau

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