CHICAGO—Wisconsin Gov. Scott Walker (R) Jan. 24 signed legislation that will exempt contributions to health savings accounts (HSAs) from state taxation, saying the new law would improve Wisconsin’s climate for business.
Walker signed Senate Bill 2, which brings Wisconsin into alignment with federal law and tax code provisions in most states. Wisconsin was one of only five states that failed to permit tax deductions for HSAs. S.B. 2 passed the Senate Jan. 20 by a vote of 20-13. The measure won support in the House later in the day by a vote of 66-28.
“Eliminating state taxes on HSAs will ...
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