A new analysis shows Wisconsin could rake in an additional $90 million in internet sales taxes this fiscal year if state lawmakers decide to start collection this fall.
The U.S. Supreme Court last month upheld South Dakota’s plan to collect online sales taxes, clearing the way for other states.
A Legislative Fiscal Bureau analysis released Monday found if Wisconsin legislators made regulatory changes in time to start collection by Oct. 1, the state would take in $90 million by mid-2019 and $120 million the following year.
State law requires an equal cut in income taxes if federal law requires collecting online sales taxes.
It’s unclear if the court decision technically is a change in federal law, but if Wisconsin implemented collection under 2017 rates, taxpayers would save an average $52.