What Taxes Fund State Government & What Does The State Spend Your Tax Money On?
April 15, 2016
Ever wonder about where all those tax dollars you pay to the state government go and how they’re spent? As we approach tax day (April 18 this year thanks to a holiday observed by federal employees, including the IRS), we bring you some facts about Wisconsin’s taxes and spending.
The chart below shows how Wisconsin spends your tax dollars. The largest expenditures are for general and categorical school aids (33 percent) and medical assistance and related programs (15.7 percent). The data is for the current 2015-2017 budget.
This chart shows the breakdown of which taxes you pay to fund state government. The vast majority of the state’s $13.9 billion in tax collections comes from the individual incomes tax (51 percent, or $7.1 billion) and general sales and use taxes (33 percent, or $4.6 billion). The data is from 2014, the most recent data available.
Happy Tax Day everyone!