A cross-section of more than 500 Wisconsin business leaders confirmed public opinion surveys dating back more than a decade that identify Wisconsin's extraordinary tax burden the biggest barrier to continued economic growth. In 2000, Wisconsin had the fifth highest total tax burden in the nation. We improved from fourth highest in the previous year. As its priority economic development strategy, Wisconsin should reduce the total state and local tax burden so that we no longer rank among the 10 highest taxing states in the nation. High taxes threaten our economy, limit personal opportunity, and jeopardize the quality of life in this state.
Recommendations Adopt the single sales factor apportionment .
Wisconsin should support corporate income tax changes that create jobs and expand businesses in Wisconsin by changing the three factor corporate apportionment formula to a single sales factor formula. Such a change will benefit national companies who have made investments in plant, equipment and personnel in Wisconsin. Current Wisconsin corporate tax policy rewards companies that move equipment and people out of the state, and punishes them when they expand within the state. All of our neighboring states have either adopted 100 percent sales factor in their apportionment formula, or are aggressively moving toward it. Reduce personal income taxes .