Another Minnesota Taxing Proposal
Minnesota revenue leaders have offered to lower Wisconsin’s annual payment on
a tax reciprocity deal by $1 million if the Badger state approves of the agreement by September 30th.
Senator Jeremy Miller of Winona says there are two reasons why the deal is important to the Badger state. More people live in Wisconsin that work in Minnesota and the effective tax rate on middle income earners is a bit higher here then across the river.
A Minnesota study concluded that Wisconsin needs to pay about $92.5 million a year due to the difference. The problem is, that’s about $4 million more than Wisconsin officials believe they should pay. No word if the deal will be accepted.