STANDARD OVERHEAD COSTS OF DOING BUSINESS IN MANITOWOC, WISCONSIN
June, 2005
MAJOR TAXES OF INTEREST TO BUSINESS-WISCONSIN
TAX RATE

CORPORATE INCOME

  • Apportionment:
    -Sales
    -Property
    -Payroll

7.9% (flat)

  • 50%
  • 25%
  • 25%

SALES/USE

  • County Option Rate
    (58 of 72 counties)
  • Manufacturing machinery
  • Pollution controls equipment
  • Materials consumed
  • Manufacturing energy

5%

  • .05%
  • Exempt
  • Exempt
  • Exempt
  • Tax Credit

PROPERTY TAX
(full value state average rate - 2004)

  • Manufacturing machinery/equip
  • Manufacturing inventories
  • Merchant's inventories
  • Pollution control equip.

2.001%

  • Exempt
  • Exempt
  • Exempt
  • Exempt

UNEMPLOYMENT COMPENSATION

  • New employers (2 years), payroll <$500,000
  • New employers (2 yrs), payroll $500,000+
  • Base
  • Minimum/Maximum
  • FUTA penalty


  • 3.05%
  • 3.25%
  • $10,500
  • .02% / 9.75%
  • 0%

WORKER'S COMPENSATION

  • Average in manufacturing


  • $5.18/$100.00

PERSONAL INCOME (married/filing jointly)

  • $0-$10,000
  • $10,001-$20,000
  • $20,001+


  • 4.6%
  • 5.3%
  • 5.9%

CAPITAL GAINS

  • Long-term exclusion


  • 60%

MAJOR TAXES/UTILITIES City of Manitowoc

2004 TAX RATE PER $1,000 OF ASSESSED VALUE:
General City $7.4005 26.87%
State $.2509 .91%
County $7.2378 26.28%
School District $10.6334 38.60%
VTAE $2.0219 7.34%
TOTAL GROSS TAX RATE $27.5445 100%
STATE SCHOOL TAX CREDIT $1.3383
NET TAX RATE $26.2062

2004 ASSESSMENT RATIO: 79.73%
MANITOWOC COUNTY SALES TAX: 5.0%

FULL (EQUALIZED) VALUE COMPARISON 2003-2004

CITY OF MANITOWOC
2003
2004
 Change in Value Percent Change
Residential $1,127,759,700 $1,151,248,300 $23,488,600 2.08%
Commercial $364,067,700 $383,957,200 $19,889,500 5.46%
Manufacturing $132,895,600 $126,715,200 -$6,180,400 -4.65%
Agricultural $404,600 $119,900 - $284,700 - 70.37%
Swamp & Waste $4,000 $2,000 $2,200 - 50.00%
Forest $67,500 $69,000 $1,500 2.22%
Other $503,400 $514,700 $11,300 2.24%
Personal Property $60,207,200 $53,477,600 - $6,729,600 - 11.18%
Total $1,685,909,700 $1,716,103,900 $30,194,200 1.79%

UPDATED JUNE 2005