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Tom Tiffany on Tax Reform

 

 


Allow pass-through companies option to reduce tax burden

Legislative Summary: SB883: This bill allows pass-through entities to elect to be taxed at the entity level for purposes of the state's income and franchise taxes. Under current law, pass-through entities are generally not subject to the income or franchise tax at the entity level. Rather, any item of income, loss, or deduction flows through to their shareholders who are then subject to tax.

Analysis by The Capital Times: This bill primarily deals with transportation issues and state highway funding. It also includes provisions that benefit certain companies, including partnerships and limited liability corporations, by effectively allowing them to reduce their tax burdens by choosing how they are taxed under state law.

Legislative Outcome: Passed Senate 18-15-0 on Dec/4/18; State Sen. Tom Tiffany voted YES; Passed Assembly 58-26-15 on Dec/4/18; Signed by Governor Scott Walker on Dec/14/18

Source: The Capital Times on Wisconsin voting record SB884 , Dec 4, 2018

Anti-taxation, according to PVS survey.

Tiffany opposes the PVS survey question on tax increases to balance the budget

Project Vote Smart inferred whether candidates agree or disagree with the statement, 'Budget: In order to balance the budget, do you support an income tax increase on any tax bracket?' PVS self-description: "The Political Courage Test provides voters with positions on key issues. Historically, candidates have failed to complete our test due to the advice they receive from their advisors and out of fear of negative attack ads."

Source: PVS Survey 20PVS-11A on Sep 9, 2020

Other governors on Tax Reform: Tom Tiffany on other issues:
WI Gubernatorial:
Jonathan Wichmann
Rebecca Kleefisch
Tim Michels
Timothy Ramthun
WI Senatorial:
Alex Lasry
Chris Larson
Eric Hovde
Mandela Barnes
Phil Anderson
Ron Johnson
Sarah Godlewski
Tammy Baldwin
Tom Nelson

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