NFIB Urges Lawmakers to Support Repeal of Personal Property Taxes
The National Federation of Independent Business (NFIB), Wisconsin’s leading small business organization, is urging Wisconsin’s state lawmakers to support legislation that would repeal the personal property tax.
The challenge of the COVID-19 pandemic has impacted thousands of Wisconsin’s Main Street business owners, who face difficult economic challenges as they struggle to fin workers, plan for reopening and fight to remain open. The elimination of the small business persona property tax reform is favored by 82 percent of our small business owners, according to a recent Wisconsin survey ballot.
Senate Bill 189 and Assembly Bill 191, recently introduced by Senator Duey Stroebel and Representative Dan Knodl, would eliminate the tax effective January 1, 2021, and has strong support of the state’s small business community.
“The personal property tax has evolved into a grab bag of exemptions and definitions that violates the basic principles of tax fairness, simple cost-effective administration, and low enforcement costs,” said Bill G. Smith, NFIB State Director in Wisconsin. “The elimination of the personal property tax would impact all Main Street businesses equally, regardless of economic status, number of employees, amount of revenue, or type of business.”
“The time is now,” said Smith, “we commend Senator Stroebel and Representative Knodl for once again bringing this legislation forward, and we urge all lawmakers to take a major step toward tax fairness and support this key tax reform on behalf of our state’s small business community.”
Senate Bill 189 has been referred to the Senate Committee on Financial Institutions and Revenue.
Assembly Bill 191 has been referred to the Assembly Committee on Ways and Means.