Wisconsin state tax basis is the Federal Adjusted Gross Income (AGI).
Interest/Divident Income: Interest and Divident income from U.S. government bonds are exempt from State Taxes.
Rent Income: Same as federal, except state farm loss provision
Capital Gain: 60% exclusion for assets held more than one year; deduction for net capital losses limited to $500. Gains from qualified small business stock and family business sales are excluded.
Unemployment Income: Limited exclusion as provided under 1986 federal law.
Social Security Benefits: Up to 50% are taxable
State Bond Interest: Taxable except certain Wisconsin obligations
Health Savings Accounts: There is no provision for state tax tax deduction from for the Health Saving Accounts.
Disability: Exclusion of up to $5,200 per year
Lottery: Same as federal.
Federal Income Tax: Not deductible
Other Taxes: 50% exclusion for medical insurance costs of employees not covered by employer-provided insurance. Deductions for contributions to a Wisconsin college savings program, Wisconsin higher education expenses, adoption expenses, organ donation expenses, and long-term care insurance. Distributions from a passive foreign investment company are taxable.
Check other state tax links below.