Recent Activity from
​WRA at the State Capitol:

BIG WINS
for small business
mean
BIG SAVINGS
for you!

The Wisconsin Restaurant Association was very vocal in sharing our industry’s stories with government officials on why they personal property tax repeal and sales tax allowance needed to happen.

Personal Property Tax is Officially Repealed

• Effective in the 2024 tax year, businesses will no longer pay their local municipalities personal property taxes on equipment, fixtures and furnishings. Goodbye to this archaic law!
  
  
• Savings will vary for Wisconsin restaurant and hospitality operators but we’ve heard the range can be from $450 - $21,000 PER LOCATION each & every year!​
  ​
• What This Means To You
  ​You still have to pay 2023’s taxes in 2024. But you’ll start enjoying the financial savings in 2025!

Discount Increased on Sales Tax
Retailer’s Allowance

• Retailers collect sales tax from the public on behalf of state and local governments and are given a “retailers allowance” as compensation for the costs they incur in collecting the tax.
  
  
• With credit card swipe fees increasing, WRA advocated for a higher discount on the retailer’s allowance. We’re thrilled to let you know that this was included in the 2023-2025 state budget!
  ​
  
• What This Means to You
  ​As of October 1, 2023 retailers may deduct for administrative expenses a discount of 0.75% (previously 0.5%), up to $8,000 (previously $1,000) of the sales and use tax payable for that reporting period.

Have questions on this?
​Reach out to our AskWRA Team.

AskWRA