Madison, WI – The Professional Insurance Agents of Wisconsin (PIAW) – a trade association representing thousands of independent agents from across the state – celebrates and praises the passage and signing of legislation to enact meaningful tax relief for small business owners statewide.
The personal property tax has existed since before Wisconsin became a state and has required businesses to repeatedly pay an annual tax on their physical possessions. Due to exemptions added over time, the tax has become a burden predominantly impacting small business owners’ furniture and fixtures. Assembly Bill 245, which was signed into law by Governor Evers today, eliminates the tax and provides long sought-after relief to small business owners.
“Repealing the personal property tax has been a longstanding priority for PIAW,” said PIAW Executive Director Pete Hanson. “Getting this legislation across the finish line is a huge success for our member agency owners who have been dealing with this outdated tax for far too long.”
The effort to repeal the personal property tax has been ongoing, led by Senator Duey Stoebel (R – Saukville) and Senator Dan Knodl (R – Germantown). Senator Mary Felzkowski (R – Tomahawk) and Representative Tony Kurtz (R – Wonewoc) authored and led efforts on the overarching legislation (Assembly Bill 245) that secured its final passage.
“Thank you to all the legislators who listened to our members’ experiences in dealing with this unfair tax,” said PIAW President Steve Clements. “We can now wholeheartedly invest in our businesses without fear of duplicative taxation.”
The Professional Insurance Agents of Wisconsin is a trade association representing thousands of independent agents. They provide professional education, advocacy, and other services throughout the state.
