Assembly Bill 543 amends the sales tax exemption for memberships sold to licensed real estate brokers in Wisconsin. The bill modifies the existing language to clarify that the exemption applies to brokers who, under their membership agreements, offer to compensate or cooperate with other brokers in brokering property sales. Specifically, the bill changes the wording from "compensate and cooperate" to "compensate or cooperate, or both," thereby broadening the scope of the exemption.

This change aims to ensure that real estate brokers can benefit from the sales tax exemption regardless of whether they choose to compensate, cooperate, or do both with other brokers. The bill is set to take effect on the first day of the third month following its publication. Additionally, because it pertains to tax exemptions, it may be reviewed by the Joint Survey Committee on Tax Exemptions.

Statutes affected:
Text as Enrolled: 77.54(72), 77.54
Bill Text: 77.54(72), 77.54