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Recent changes to Wisconsin sales tax legislation have increased the discount related to a retailer’s timely reporting and payment of sales taxes due.

Effective for taxes payable on or after October 1, 2023, a retailer may now deduct 0.75% of the total tax due, an increase from the prior discount of 0.50%.  The discount’s limit has also been increased significantly, from a prior maximum of $1,000 to the new limit of $8,000.

More information on the new sales tax discount rules is available in the July issue of the Wisconsin Department of Revenue’s monthly newsletter, Wisconsin Tax Bulletin.