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Economy slowly recovering
Sun January 12, 2014
Local, state taxes down, federal taxes up-WTA
2013 state and local taxes fell slightly and federal taxes rose according to a tax watchdog group.
The non-partisan Wisconsin Taxpayers Alliance has a new report on 2013 tax collections.
Stephanie Rubin is a WISTAX research analyst...
"....the state and local tax burden fell because incomes grew faster than state and local tax collections. A stronger economy provided more taxes to collect. Individual and corporate taxes are very sensitive to changes in the economy, and because of the recovering economy, both of those taxes increased...."
Rubin says the federal tax collections were another story...
"....Wisconsin taxpayers paid 6.6 percent more to the federal government than in 2012. That equals about 18 percent of personal income, which is slightly higher than last year because income rose slower than federal tax collections...."
Total taxes were 29.7 percent of income, up slightly from the year before.