Month: January 2020

Wisconsin Audit Initiative Provides 12 to 1 Return on Investment

The 2015-2017 biennial budget, Wisconsin Act 55, requires the Wisconsin Department of Revenue to annually report to the Joint Committee on Finance the actual or estimated amounts of state tax revenues generated by, and expenditures associated with, the additional full-time, audit-related positions created by Act 55.

This year was a record year for the audit initiative. “The initiative, which primarily focuses on out-of-state audits and investigations of out-of-state companies generating revenue in the state, is greatly surpassing all expectations,” notes Wisconsin Department of Revenue Secretary Peter Barca.

The Act 55 goal for FY2019 was additional audit collections of $82 million. Auditors and audit-related positions created by Act 55 generated $159.9 million, with an additional $857 million in assessments pending payment or appeal resolution as of June 30,2019. The resulting return on investment is 11.8 to 1.

Secretary Barca expects the audit initiative to continue providing real value to Wisconsin taxpayers. “Our goal is to ensure a level playing field for Wisconsin companies by making sure that their out-of-state competitors pay the taxes they owe. In the end, it’s about fairness and ensuring that Wisconsin businesses are not paying more than their fair share of taxes.”

Wisconsin’s Population Continues to Grow

Wisconsin’s population has grown every year since the 2010 Census. The gains have not been especially large, a net gain of between 9,400 to 18,300 people each year.

This last year was no different. The state added 15,028 people, an increase of 0.26%. The gain brings Wisconsin to a net increase of 135,448 people since 2010. The state’s 2.38% growth since 2010 ranks 37th in the country.

Most of Wisconsin’s population gain in the last year came from its natural increase with 63,712 births outpacing the state’s 50,393 deaths. Total net migration added another 1,903 people with a net gain of 3,341 internationally offsetting the net loss of 1,438 people domestically.

Since 2010, Wisconsin has seen a net loss of 12,755 people through migration with the loss of 72,006 residents domestically outpacing a gain of 59,251 from outside the U.S.