State Leaders Mull Sales Tax Holidays
By Patrick Lynn
New legislation that provides four sales tax- free shopping days during the calendar year is being considered by state leaders, which would make Wisconsin the 19th state to implement a tax holiday.
The proposal would suspend the state’s 5 percent sales tax, as well as local sales tax on certain items, on two days in August and two days in November.
The bill was sponsored by Assemblyman Chad Weininger of Green Bay, who calls the bill a “no- brainer”.
The proposal would allow the following items to be exempted from sales tax during the first weekend of August:
- An item of clothing, not including accessories, if the sales price of any single item is no more than $75
- A computer purchased for personal use if the price is no more than $2,000
- School computer supplies, if the price of any single item is no more than $250
- School instructional materials, if the sales price of any single item is no more than $300
- School supplies, if the price of any single item is no more than $75
Energy Star products would exempted during the tax holiday in November.
According to the Department of Revenue, the State of Wisconsin took in just over $4.2 billion in sales taxes in 2012 and could lose almost $15 million of that during the proposed tax holidays. Apple and Wal-Mart have already endorsed the bill.