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You are here: Home / News / Wisconsin tax collections exceed estimates

Wisconsin tax collections exceed estimates

August 27, 2015 By Andrew Beckett

State tax collections during the last fiscal year came in at about $71 million more than what has originally been projected.

A report from the Legislative Fiscal Bureau this week shows the state took in nearly $15 billion during the fiscal year that ended on June 30, well above the $14.47 billion that had been estimated in January. The report shows much of the increase was the result of a bump in corporate income and franchise tax collections.

Under state law, about $12 million of the excess collections must go into the state’s rainy day fund. The remaining $60 million or so will increase the opening general fund balance for the 2015-16 fiscal year, which began on July 1.

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Filed Under: News, Taxes



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