(The Center Square) – Wisconsin collected $450 million more than estimates in taxes and fees last fiscal year, meaning the state will likely have an estimated $3 billion budget surplus.
That excess came from $231 million above estimates for individual income tax collects, $84 million in additional corporate income and franchise taxes and nearly $80 million in sales and use taxes collected in the state, according to preliminary numbers released Thursday by the Wisconsin Department of Revenue.
Overall, Wisconsin collected $23.1 billion in the fiscal year, a 3.4% increase from fiscal year 2025 and 2.0% more than the Legislative Fiscal Bureau’s modified collection estimate of $22.7 billion from mid-January.
“These are unaudited figures subject to final review by the State Controller's Office prior to the publication
of the Department of Administration's Annual Fiscal Report to be released Oct. 15,” the department said. “Additionally, the Legislative Audit Bureau performs an audit of the State’s Annual Comprehensive
Financial Report which is published in December of each year.”
Wisconsin collected $10.6 billion in individual income tax, $8.2 billion in sales and use taxes and $3.0 billion in corporate income and franchise taxes over the fiscal year.
Originally published on thecentersquare.com, part of the BLOX Digital Content Exchange.
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