MADISON - Wisconsin residents will not be taxed on the rebate checks from the federal government arriving this spring, state Sen. Dale Schultz announced Thursday.
Schultz, R-Richland Center, said he opposed letting the Wisconsin Department of Revenue require taxpayers to add a rebate check amount as income when filing a 2008 state income tax return.
"The rebate is intended to stimulate the economy and help reverse an economic downturn," Schultz said. "It's common sense to not tax the rebate, but with a state revenue shortfall now projected at $652 million, bureaucrats can sometimes lose sight of common sense. That's why it's a relief that the Wisconsin Department of Revenue officially announced this week the rebate checks will not be considered taxable Wisconsin income."
According to federal law enacted this month, tax rebate checks ranging from $300 to $1,200 will be sent to approximately 130 million Americans.
Schultz, R-Richland Center, said he opposed letting the Wisconsin Department of Revenue require taxpayers to add a rebate check amount as income when filing a 2008 state income tax return.
"The rebate is intended to stimulate the economy and help reverse an economic downturn," Schultz said. "It's common sense to not tax the rebate, but with a state revenue shortfall now projected at $652 million, bureaucrats can sometimes lose sight of common sense. That's why it's a relief that the Wisconsin Department of Revenue officially announced this week the rebate checks will not be considered taxable Wisconsin income."
According to federal law enacted this month, tax rebate checks ranging from $300 to $1,200 will be sent to approximately 130 million Americans.