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Wisconsin Adopts Provisions in the Federal Tax Cuts and Jobs Act of 2017

Wisconsin recently adopted provisions in the Federal Tax Cuts and Jobs Act of 2017 and disclosed provisions that were not adopted. A few key items of note, Wisconsin has adopted the expanded Section 179 expensing of capital expenditures, increased luxury auto depreciation limits, and the ability to use 529 accounts to fund elementary and secondary education. One of the key items that Wisconsin is not adopting is the 20% deduction for qualified business income. To see a full listing of what was adopted and what was not, please view the chart below: