LRB-3326/1
JS:kmg:jlb
1995 - 1996 LEGISLATURE
May 30, 1995 - Introduced by Representatives Kaufert, Foti, Harsdorf, Musser,
Otte, Ziegelbauer, Hasenohrl, Grobschmidt, Vrakas, Springer, Lehman,
Ward, Lorge, Schneiders, Grothman, Coleman and Hahn, cosponsored by
Senators Wineke, Andrea and Breske. Referred to Committee on Small
Business and Economic Development.
AB417,1,2
1An Act to repeal 77.61 (4) (b); and
to amend 25.40 (1) (a) 1. and 77.61 (4) (c) of
2the statutes;
relating to: the retailer's discount for the sales tax and use tax.
Analysis by the Legislative Reference Bureau
Under current law, for reporting the sales tax and collecting and reporting the
use tax, retailers may retain 0.5% of the revenue. Under this bill, retailers may
retain 1%.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB417, s. 1
3Section
1. 25.40 (1) (a) 1. of the statutes is amended to read:
AB417,1,44
25.40
(1) (a) 1. Net sales taxes as determined in s. 77.61 (4)
(b) or (c).
AB417, s. 2
5Section
2. 77.61 (4) (b) of the statutes is repealed.
AB417, s. 3
6Section
3. 77.61 (4) (c) of the statutes is amended to read:
AB417,2,27
77.61
(4) (c) For reporting the sales tax and collecting and reporting the use tax
8imposed on the retailer under s. 77.53 (3) and the accounting connected with it,
9retailers may deduct
0.5% 1% of the sales and use tax payable as administration
10expenses if the payment of the taxes is not delinquent. For purposes of calculating
11the retailer's discount under this paragraph, the taxes on retail sales reported by
1retailers under subch. V, including taxes collected and remitted as required under
2s. 77.785, shall be included if the payment of those taxes is not delinquent.
AB417,2,5
4(1) This act first applies to taxes payable on returns filed for periods that end
5on January 1, 1996.
