A new bill before the state Assembly aims to ensure businesses in Wisconsin must pay the appropriate state taxes.
State Rep. Cory Mason, D-Racine, introduced the “End Tax Havens Abuse Act” and said in a statement Thursday the bill would require Wisconsin businesses to pay taxes in the state could save taxpayers up to $28.8 million each year.
“There is no reason a corporation should be able to shift its profits overseas while leaving Wisconsin’s middle-class families on the hook for a greater share of Wisconsin’s income tax burden,” Mason said in the statement.
Mason cited a Wisconsin Public Interest Research Group study that found many corporations use offshore subsidiaries to avoid paying state income tax.
Additionally, Mason said he hopes to see a committee hearing on the bill in coming weeks.
