Bill > SB706

This bill modifies the existing sales and use tax exemption for auctions of personal farm property or household goods by redefining key terms and clarifying the scope of the tax exemption. Specifically, the bill changes the exemption from "five or fewer auctions" to "five or fewer auction events" and provides detailed definitions for what constitutes an auction event. For traditional in-person auctions, an auction event is defined as the total number of consecutive days property is available for bidding at a specific location. For online or hybrid auctions, an auction event is defined as the total number of consecutive days that winning bids are selected, even if the property is located in multiple places. The bill also adds new definitions for "auctioneer" (a licensed person or company conducting an auction) and "location" (the physical building or address where the auction occurs), with special provisions for shopping centers and malls. The changes aim to provide more clarity and precision in how sales tax exemptions are applied to auctions, particularly those involving internet bidding. The act will take effect on the first day of the third month after its publication.

Budget and Finance

https://docs.legis.wisconsin.gov/2025/proposals/reg/sen/bill/sb706