Larger capital gains tax exemption proposed

MADISON (WRN) Several Democratic state lawmakers want to give greater tax benefits to long term investments in Wisconsin businesses.

State Representative Peter Barca (D-Kenosha) is among a group of lawmakers who are proposing a bill that would create a capital gains tax exclusion of 60-percent for assets held longer than five years. Barca says the proposal would create a two-tiered structure that would help to encourage businesses to make long term investments in the state.

The state currently provides a 30-percent exemption for assets held at least one year.

Barca says the proposal is a good fit for the state, at a time when many communities are “hungry for investment.”

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