In Late February, Forward Analytics released a report and press release highlighting how income tax cuts from 2012-2023 have resulted in nearly $7 billion in tax relief for Wisconsin Taxpayers.

According to the report, the groups that saw the largest cuts in percentage terms were single filers with incomes under $48,000 and married-joint filers with incomes less than $68,000. These two groups saw their tax rates reduced by 24 to 26%. The report also noted that as income levels rose, savings generally declined. Single filers with incomes between $400,000 and $600,000 and married-joint filers with incomes between $530,000 and $800,000 saw reductions in their tax rates ranging from 10% to 15%. Those with incomes over $1 million saw rates lowered by 8% or less.

In the lowest income tax bracket, rates dropped from 4.6% to 3.5%, a 24% cut. In the second-lowest bracket, rates dropped from 6.15% to 4.4%, a 28% cut. In 2013, the current third bracket was created by merging two brackets resulting in a 19% and 22% cut from 6.5% and 6.75% to 5.3%.

The report notes that the tax cuts have generally improved Wisconsin’s national ranking in various income tax measures, but the improvements may not be as large as expected due to other states enacting their own tax cuts. Wisconsin’s competitiveness among the 35 states with a graduated income tax improved in its bottom income tax rate and slightly worsened among top earners. Wisconsin went from having the 4th highest bottom rate in 2012 to 8th highest in 2025 and the top tax rate worsened from 11th highest in 2012 to 9th highest in 2025.

Overall, Wisconsin’s rank on income tax collections per capita improved from 13th highest in 2012 to 26th highest in 2022 and it’s ranking on collections relative to personal income improved from 9th to 29th.