Wisconsin Dividend Equivalent Shares
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How to fill out Dividend Equivalent Shares?
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FAQ
Ordinary dividends are taxed as ordinary income. Qualified dividends meet the requirements to be taxed as capital gains, at either the 0%, 15%, or 20% rate (or breakpoint).
The amount of interest or dividend income that is by federal law exempt from taxation by Wisconsin (including interest on United States bonds and dividends of certain United States government corporations), less any related expense, is subtracted from the federal base. ( Sec. 71.05(6)(b)1, Wis. Stats. )
Interest income from Treasury bills, notes and bonds - This interest is subject to federal income tax, but is exempt from all state and local income taxes.
Because U.S. savings bonds are issued by the federal government you do not have to pay state tax or local taxes on the earned interest on your Wisconsin income tax return.
Overview of Wisconsin Taxes Wisconsin workers are subject to a progressive state income tax system with four tax brackets. The tax rates, which range from 3.54% to 7.65%, are dependent on income level and filing status.
Interest income from Treasury securities is subject to federal income tax but exempt from state and local taxes. Income from Treasury bills is paid at maturity and, thus, tax-reportable in the year in which it is received.
Do I need to pay state or federal taxes on the interest income earned on the bond? Because U.S. savings bonds are issued by the federal government you do not have to pay state tax or local taxes on the earned interest on your Wisconsin income tax return.
Interest on a bond that is used to finance government operations generally is not taxable if the bond is issued by a state, the District of Columbia, a U.S. possession, or any of their political subdivisions.
