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News

Department of Employee Trust Funds
March 27, 2014

Change in State Tax Tables May Affect Some Annuitants

 

 

The Wisconsin Department of Revenue (DOR) has revised state tax withholding tables. For Wisconsin Retirement System (WRS) annuitants who withhold Wisconsin state income tax based on the tax tables, this change will be reflected on their April 1, 2014 payments.

If your monthly payment will change as a result of the new tax table, the Department of Employee Trust Funds (ETF) will send you an annuity mailing statement reflecting the new withholding amount.

This change does not affect WRS annuitants who withhold Wisconsin state income taxes at a fixed dollar amount.

The withholding table changes reflect the individual income tax rate cuts effective in tax year 2013, an additional proposed rate cut that would be effective in tax year 2014. The revised federal tables can be found at www.irs.gov/pub/irs-pdf/p15.pdf. The revised state tables can be found on DOR’s website at www.revenue.wi.gov/pubs/pb166.pdf.

Please note:

 

 

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