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Closing a Corporate Tax Loophole
Last night the legislature enacted a state stimulus bill which will close a corporate tax loophole restoring integrity to our tax code and leveling the playing field among businesses.
WISPIRG applauds both the Senate and the Assembly for standing up for Wisconsin businesses and passing combined reporting. It’s about time Wisconsin modernize its tax code.
The bill closes a corporate tax loophole, preventing large multi state companies from avoiding paying their fair share in state taxes.
In the face of opposition voiced by big businesses lobbying, the legislature supported common sense reforms reducing opportunities for tax avoidance and restoring fairness to our tax system.
All taxpayers, including big businesses, rely on public infrastructure and services including education, transportation, police, fire, sanitation, parks and recreation, and public health. And whatever your perspective on the level of taxes in Wisconsin, most everyone agrees that our taxes should be fair. Some businesses should not be allowed to pay less because of unintended, outdated or unreasonable tax breaks.
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