{"id":13325,"date":"2024-10-10T19:33:07","date_gmt":"2024-10-10T19:33:07","guid":{"rendered":"https:\/\/wifamily.news\/?p=13325"},"modified":"2024-10-10T20:11:40","modified_gmt":"2024-10-10T20:11:40","slug":"wisconsin-sales-tax-collections-up-2-1-in-first-quarter-of-fiscal-year","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=13325","title":{"rendered":"Wisconsin Sales Tax Collections Up 2.1% in First Quarter of Fiscal Year"},"content":{"rendered":"<p>This post originally appeared at <a href=\"https:\/\/www.wisconsinrightnow.com\/wisconsin-sales-tax-collections-up-2-1-in-first-quarter-of-fiscal-year\/\">https:\/\/www.wisconsinrightnow.com\/wisconsin-sales-tax-collections-up-2-1-in-first-quarter-of-fiscal-year\/<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"150\" height=\"150\" src=\"https:\/\/wifamily.news\/wp-content\/uploads\/2024\/10\/wealth-tax-150x150-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"wealth tax\" title=\"DPI\" \/><\/p>\n<p>(The Center Square) \u2013 Wisconsin saw a 2.1% increase in its general sales and use tax collections in the first quarter of the new fiscal year in numbers released Thursday.<\/p>\n<p>The state collected more than $1.32 billion after collecting $1.29 billion during the same period last year. The numbers represent collections from July through September.<\/p>\n<p>Overall, the state collected an adjusted amount of $4.15 billion in general purpose revenue during the first quarter, up from $3.97 billion in the first quarter of last fiscal year.<\/p>\n<p>Wisconsin collected $21.3 billion last fiscal year, ending in June, after collecting nearly $21 billion the year before.<\/p>\n<p>The numbers represent a continuation of a trend of slowed growth in sales tax revenue for the state in the post-COVID timeframe.<\/p>\n<p>The state collected $2.73 billion in state sales taxes over the first five months of 2024, a 0.4% increase over the $2.72 billion in the same five months the year before, according to <a href=\"https:\/\/wispolicyforum.org\/research\/sales-tax-revenues-begin-to-slow\/\" target=\"_blank\" rel=\"noopener\">Wisconsin Policy Forum<\/a>.<\/p>\n<p>\u201cThe retail sector contributes the largest amount in sales tax revenues by far,\u201d the group said in July. \u201cIn calendar year 2023, Wisconsin reported a total of $7.22 billion in sales tax revenues; $3.47 billion of that \u2013 or 48.0% \u2013 came from retail. Consequently, even though growth in the retail sector was limited (0.6%), that growth accounts for almost the entirety of sales tax revenue growth in Wisconsin during the first five months of 2024.\u201d<\/p>\n<p>Corporate taxes were up 2.8% year over year for the first quarter of the new fiscal year while excise tax was down 2.7% and individual income tax collections were up an adjusted 6.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post originally appeared at https:\/\/www.wisconsinrightnow.com\/wisconsin-sales-tax-collections-up-2-1-in-first-quarter-of-fiscal-year\/ (The Center Square) \u2013 Wisconsin saw a 2.1% increase&#8230;<\/p>\n","protected":false},"author":70,"featured_media":13327,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-13325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wi-right-now"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/13325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/users\/70"}],"replies":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13325"}],"version-history":[{"count":2,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/13325\/revisions"}],"predecessor-version":[{"id":13328,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/13325\/revisions\/13328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/13327"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}