ITEP Compares Tax Fairness and Structures of Wisconsin and Minnesota
What happened
The Institute on Taxation and Economic Policy analyzed and compared the tax law fairness of Wisconsin and Minnesota. ITEP noted that Wisconsin splits its tax revenue one-third between income, sales, and property tax. In comparison, Minnesota holds the second highest fairness rating, with 40% of its tax revenue coming from income tax.
From wortfm.org
Why it matters
ITEP recommends that states utilize aggressive income tax rather than higher sales or property taxes, as the latter tend to tax lower income brackets. The analysis also highlighted that large corporations may use loopholes, such as the Offshore loophole, to avoid paying taxes.
From wortfm.org
Who's involved
- Institute on Taxation and Economic PolicyAnalyzed and compared the tax laws of Wisconsin and Minnesota.
- WisconsinSubject of the tax fairness analysis.
- MinnesotaSubject of the tax fairness analysis and comparison.
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The entities involved
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Wisconsin
state of the United States of America
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Minnesota
state of the United States of America
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Institute on Taxation and Economic Policy
non-profit non-partisan tax think tank