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Get your taxes done using TurboTax
Since Wisconsin has an income tax rate maximum of just over 7% you are withholding too much if you are withholding 20%. The tax paid to your state and to the IRS is completely separate. You pay estimated tax to each.
https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes
‎January 20, 2025
12:01 PM