Wisconsin Budget Deal Impacts Small Business Owners

Date: September 20, 2017

Related Content: News Economy Wisconsin

The two-month budget stalemate is over, as the Senate passed a $76 billion budget in a 19-14 vote.

The resulting proposal includes a variety of proposals that will impact small business owners. The budget currently awaits Gov. Scott Walker’s signature.

The Milwaukee Journal Sentinel outlined the agreement, which includes:

  • Eliminating Gov. Walker’s proposals for a $203 million state income tax cut proposal a $22 million sales tax holiday, and a $20 million increase to the earned income tax credit program
  • Cutting local property taxes on business machinery, not including manufacturers
  • Nixing the alternative minimum tax
  • Blocking a special tax district in Milwaukee from putting assessments on residential properties
  • Approving a new method for regulating room rental websites, such as Airbnb, in which local governments can’t prohibit these rentals if they are at least a week long but fewer than 29 days and the websites would need to register with the state and collect sales and room taxes

Related Content: News | Economy | Wisconsin

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