Bill also includes protections in future public health crises for small business owners
MADISON (June 21, 2023) – Small business owners across Wisconsin applaud the repeal of the personal property tax, a complex tax that is assessed on the personal property of businesses and collected by local units of government. The bipartisan revenue bill, which was signed into law by Governor Tony Evers, also protects small businesses against being deemed non-essential and forced to shut their doors.
Upon the repeal of the personal property tax, NFIB State Director Bill G. Smith said:
“Today is a great day for Wisconsin job creators. Small business owners have long sought the repeal of the personal property tax, a relic of colonial times, that in recent years, has become a grab bag of confusing exemptions and complex definitions. To the personal property tax, small business owners say, ‘good riddance.’”
Smith continued, applauding the small business protections in future public health crises, saying:
“The past few years demonstrate how good intentions can undermine entire communities. While big box retailers were deemed ‘essential’ during the pandemic, mom-and-pop shops had their doors shut. Many have struggled to re-open. When government orders are issued for public health and safety, all businesses deserve the opportunity to keep their doors open.“
Background:
The elimination of the personal property tax is a top NFIB tax reform initiative, supported by 82 percent of respondents to a recent state survey ballot.
A recent NFIB survey of members across Wisconsin found that 97 percent of respondents support eliminating the essential and non-essential designations from emergency orders.
