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HSAs Gain Favorable Wisconsin Income Tax Treatment

General Business

January 28, 2011
by Pamela Branshaw, CPA, CEBS, Thomas Krieg, CPA, Robert Buss, Jr.

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Pamela Branshaw Pamela Branshaw, CPA, CEBS
Partner

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Thomas Krieg Thomas Krieg, CPA
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Robert Buss, Jr. Robert Buss, Jr.
Executive Director of Benefit Services

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In a long-awaited move, Wisconsin Governor Scott Walker signed into law the 2011 Wisconsin Act 1 on January 24, 2011. This Act changes Wisconsin income tax law to conform with federal tax law as it relates to health savings accounts (“HSAs”). Effective January 1, 2011, HSA account owners are no longer subject to Wisconsin income taxes on contributions, provided they do not exceed statutory limitations.


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