- Wisconsin has increased the retailer’s discount for timely filed and paid sales and use tax returns from 0.5% to 0.75%
- The limit of a retailer’s discount that may be deducted on a sales and use tax return has been increased from $1,000 to $8,000
- The retailer’s discount is computed based on the total sales tax amount
- For sales tax amounts between $0 and $10, the discount is equal to the total sales tax
- For sales tax amounts between $10 and $1,333, the discount is $10
- For sales tax amounts greater than $1,333, the discount is the total sales tax amount times 0.0075, but cannot exceed $8,000 per reporting period.
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
