How WISCONSIN Taxes Retirees (Video)

UGH! Wisconsin is NOT GOOD for retirees.

Income tax for retirees ranks the 4th highest in the country, first of all. The Tax Foundation puts the state at 11% for its total tax burden. Yikes!

They have some exemptions but your income needs to be VERY low to qualify. At least Social Security is not taxed though. That’s a win indeed. But once you break $15k in taxable income as a Married Couple you’re in the high 5% bracket.

Sales tax is very low. So that’s a win. It’s offset by a HUGE property tax rate though of 1.77%. Given that the average house in Wisconsin in on the high end that high property tax rate costs a lot of money.

Interesting is that Wisconsin taxes capital gains at its ordinary income rates. So, that’s just another tax on top of the Feds capital gains rate.

Click here for video.

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