MADISON, WI (WTAQ) - Wisconsin is the only state to have reductions in both sales and individual income tax revenues in 2012, compared to the year before.
The U.S. Census has released new figures showing that Wisconsin sales tax revenues fell by 5.8 percent last year – and its individual income tax brought in 2.6 percent less.
California, New Jersey, and North Carolina were the only other states to have a drop in their sales tax revenues in 2012. And the Badger State was among just four states in which individual income taxes did not generate as much as the previous year.
The Census Bureau said the 50 states collected record revenues in 2012, totaling almost $795 billion. But that’s only a little higher than in the final year before the Great Recession hit.
The nation’s 2008 taxes for states totaled $782 billion.