The standard deduction, which Wisconsin has, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction.Įssentially, it translates to $12,760.00 per year of tax-free income for single Wisconsin taxpayers, and $23,620.00 for those filing jointly. The current values of these deductions for tax year 2023 are as follows: The three most common deductions encountered by taxpayers are the Wisconsin Standard Deduction, the Wisconsin Personal Exemption, and the Wisconsin Dependent Deduction. In addition to marginal tax brackets, one of the major features of the Wisconsin income tax is deductions. Remember that Wisconsin may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your Wisconsin income tax return. Qualifying deductions might include an itemized deduction, the Wisconsin standard deduction, exemptions for dependants, business expenses, etc. When calculating your Wisconsin income tax, keep in mind that the Wisconsin state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.įor a more detailed estimate that takes these factors into account, click 'View Detailed Estimate' (this will will redirect to an external website). You can use the income tax estimator to the left to calculate your approximate Wisconsin and Federal income tax based on the most recent tax brackets. Married couples filing their Wisconsin income tax return jointly will usually have wider tax brackets than those filing separately or as an individual. In Wisconsin, different tax brackets are applicable to different filing types. Each marginal rate only applies to earnings within the applicable marginal tax bracket Wisconsin has four marginal tax brackets, ranging from 3.54% (the lowest Wisconsin tax bracket) to 7.65% (the highest Wisconsin tax bracket). Wisconsin's tax brackets are indexed for inflation, and are updated yearly to reflect changes in cost of living. Wisconsin's income tax brackets were last changed one year ago for tax year 2022, and the tax rates were previously changed in 2020.

Federal income tax brackets 2020 2021