Since you have Wisconsin gross income, including any Wisconsin lottery winnings, of $2,000 or more, you are required to file a Wisconsin income tax return and pay Wisconsin income tax on the lottery winnings. . Wisconsin's Medicaid program, known as BadgerCare, covered adults up to 200 percent of the federal poverty level. I am a nonresident of Wisconsin. Answer (1 of 8): I have uniquely resided in all three states, oddly enough… I will refine the answer to a broad overage of the three largest cities, Detroit, Milwaukee and Minneapolis. For information on Compare Minnesota, contact Magda Olson at 651-259-7183. On Wisconsin's side of the border, LouAnne Reger knows all about the differences. Click the tabs below to explore! But for some reason, those people over there in Minnesota have this idea that THEY are better than we are. The reciprocity agreement between Wisconsin and Minnesota expired January 1, 2010. Tax-Rates.org provides free access to tax rates, calculators, and more.
Businesses, Individuals, Press Releases, Tax Pro: 2021: 4/1/2021: 2020 Wisconsin Tax Return Due Dates and Payments Save the receipts when you buy school supplies for your children in grades K-12. The top state income tax bracket stayed the same, though. Seven states have no income tax and two only tax interest and dividends. The Tax Foundation's State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare. Tax 2.02 and 2.90, Wis. Adm. Code. Also, you must file a Minnesota income tax return if you meet the minimum filing requirement for the year. State Income Tax. There is a labor shortage here, and it's getting worse. A nonresident of Wisconsin is taxed on lottery winnings from the Wisconsin Lottery. Individual Taxes Business Taxes Sales Taxes Property Taxes. Minnesota income tax rates. Any Wisconsin resident with home-owning relatives or friends in Minnesota knows the score: Property tax bills across the border might be half of yours. Found inside – Page 32charge the customer Wisconsin sales or use tax , the customer Wisconsin tax ... Example 2 : Company O , located in Minnesota , contracts with Company P ... Use this tool to compare the state income taxes in Minnesota and Wisconsin, or any other pair of states. The amount of Wisconsin tax paid on the income subject to tax in the other state; Note: The third limitation does not apply to income that is taxed by Minnesota, Illinois, Iowa, or Michigan. Found inside – Page 12Taxes . Pending . 1413 State v . Farmers Mutual Hail Insurance Company . ... the legislatures of Minnesota and Wisconsin appointed joint committees to ... (e) For other fuels, including jet fuel, propane, and compressed natural gas, the tax is imposed on the distributor, special fuel dealer, or bulk purchaser. The battle for the ax of Wisconsin vs. Minnesota and Paul Bunyan is finally happening. Your Minnesota employer will use the federal Form W-4 or the Minnesota W-4MN to determine the amount of Minnesota income tax to be withheld from your wages.
Online Services. Minnesota Jet Fuel Tax . Michigan Income Taxes Benefits - Michigan vs. Wisconsin MICHIGAN Sales Taxes State Sales Tax: 6% (food and prescription drugs exempt; home heating fuels are taxed at 4%) Gasoline Tax: 36.2 cents/gallon Diesel Fuel Tax: 32.9 cents/gallon WISCONSIN Sales Taxes State Sales Tax: 5% (food and prescription drugs exempt); County tax is 0.5%. Found inside – Page 28Minnesota , 358 U.S. 540 ( 1959 ) ( tax on net income from intrastate ... and it was properly apportioned to in - state activities ) ; Wisconsin v . Well, this is a game we didn't think would happen. A salary of $40,000 in Madison, Wisconsin should increase to $42,521 in Minneapolis, Minnesota (assumptions include Homeowner, no Child Care, and Taxes are not considered.
Beginning January 1, 2010, your Minnesota employer will withhold Minnesota income taxes from personal service income, such as salaries, wages, commissions and fees. Income from retirement accounts, including an IRA or a 401 (k), is taxable at rates ranging from 3.54% to 7.65%. Wisconsin will allow a credit for the net income tax paid to Minnesota on income that is taxed by both Wisconsin and Minnesota. For income taxes in all fifty states, see the income tax by state. While there are many ways to show how much is collected in taxes by state governments, the Index is designed to show how well states structure their tax systems and provides a road map for improvement. Contact. Below, we have highlighted a number of tax rates, ranks, and measures detailing Wisconsin's income tax, business tax, sales tax, and property tax systems. File a 2020 Wisconsin income tax return (Form 1) in 2021. Singles and heads of household making $263,480 or more in taxable income are subject to the highest tax rate of 7.65%. Wisconsin Sales/Use Tax Spreadsheet . This is alleged to be evidence that Minnesota's liberal policies are working. (See Minnesota Statute 290.06 .) Stats., and secs. This tool compares the tax brackets for single individuals in each state. Interesting column comparing Wisconsin and Minnesota. As a . "I doubt Wisconsin wants that.". Schedule U - Underpayment of Estimated Tax by Individuals and Fiduciaries (2020) Schedule I - Adjustments to Convert Federal Adjusted Gross Income and Itemized Deductions to the Amounts Allowable for Wisconsin. . Wisconsin's revenue status among the states has changed . google_ad_client="c"+"a-pu"+"b-2244"+"847655937829";google_ad_slot="4992074260";google_ad_width=728;google_ad_height=90; Are you considering moving or earning income in another state? You then send this money as deposits to the Minnesota Department of Revenue and file withholding tax returns. Form W-221 - Nonresident Military Spouse Withholding Exemption . Form WT-4 is used to determine the amount of Wisconsin income tax to be withheld from employee wages. Under Public Law 86−272, a state can't impose an income tax or franchise tax based on net income on a corporation selling tangible personal property if the corporation's only activity in the state is the solicitation of orders, which orders are approved outside the state and are filled by delivery from a point outside the state. Outside of income tax and retirement benefit taxes, it's important to consider the ancillary taxes that could arise with retirement in Wisconsin. "It's an emotional thing about where people live.". All the TV/streaming/radio info you need for Saturday afternoon's Paul Bunyan's Axe battle between the Badgers and the Gophers. BluePink XHost: Servere virtuale de la 20 eur / luna. Illinois hiked its individual income tax rate in 2011 to a flat 5 percent (up from 3 percent). Wisconsin and Minnesota will operate their respective governments very differently, and we may be able to draw some valuable lessons from the outcome. The average effective property tax rate is 1.08%, close to the national average. But she wonders why her adopted state can't give a big tax break to homeowners. Wisconsin Income Taxes. Minnesota may allow a credit for income taxes paid to Wisconsin on income that is taxed by both Wisconsin and Minnesota. Minnesota Archive Editions uses digital technology to make long-unavailable books once again accessible, and are published unaltered from the original University of Minnesota Press editions.While dealing particularly with Minnesota, this ... For more information about the income tax in these states, visit the Minnesota and Wisconsin income tax pages. Found inside – Page 112... Box 1215 MILWAUKEE , Wisconsin 53201 ( 414 ) 271-5100 These schedules show the information needed to project Wisconsin vs. Minnesota business taxes .
Wisconsin business officials have fought a change in the constitution. For instance, the property tax in Wisconsin is quite high, typically ranking in the top 10 most expensive states in the country. File a 2020 Minnesota income tax return in 2021. With local taxes, the total sales tax rate is between 6.875% and 8.875%. Most definitely Wisconsin! MN is a no-fault state so their car insurance rates are higher as well. Minnesota's estate tax exemption for non-spousal transfers is only $1 million, compared to the federal exemption of $5.25 million (which is indexed for inflation).
Compare these to California, where residents owe almost 5% of their income in sales and excise taxes, and just 0.76% in real estate tax. There is a statewide income tax in Wisconsin. Agency Directory
In the Badger State, tax . The table below shows Wisconsin's tax rates as of tax year 2020 (filed in 2021) and their respective brackets. Side-by-side comparison between Iowa and Minnesota using the main population, demographic, and social indicators from the United States Census Bureau. You may no longer accept Form W-222, Statement of Minnesota Residency. Taxes, of course, are not the end-all and . Tax imposed. Minnesota is growing and thriving far more than Wisconsin: Three years into Mr. Walker's term, Wisconsin lags behind Minnesota in job creation and economic growth. From: tonyo6302. estimated tax payments. Iowa vs. Minnesota. Wisconsin has a progressive system, charging 4.6 percent to 7.75 percent on individual income. Found inside – Page 16State v . Wisconsin , Minnesota & Pacific Railway Co. Penalty for nonpayment of taxes $ 1.257.71 . State v . Chicago Great Western Railway Co. What they might not know: That gap fades just by registering a car. Are you considering moving or earning income in another state? Minnesota vs. Wisconsin: Who's Winning the Border Battle? Overview of Wisconsin Retirement Tax Friendliness. Laws enacted and in effect after February 4, 2021, new administrative rules, and court decisions may change the interpretations in this document. State Income Tax Range: 3.1% (on taxable income from $2,501 to $15,000 for single filers; from $5,001 to $30,000 for joint filers) to 5.7% (on taxable income over $30,000 for . Minnesota vs. Wisconsin. As a single earner or head of household in Wisconsin, you'll be taxed at a rate of 3.54% if you make up to $11,790 in taxable income per year. The argument is silly for a . State and Local Sales Taxes The owner of J&L Steel and Electrical Services moved her home and business to northwestern Wisconsin from Minnesota in recent years, for family reasons. Minnesota's fees are price-based, so a Honda Accord will cost you hundreds more the first year and more than a thousand more within five years at current levels. Top Individual Income Tax Rate. Side-by-side comparison between Wisconsin and Minnesota using the main population, demographic, and social indicators from the United States Census Bureau. The latest in the ongoing war of words between Wisconsin Republicans and Minnesota Democrats over which state is better for business comes from Minnesota State Rep. Joe Atkins, who last week told the Minneapolis Star Tribune that, "The objective data shows that, frankly, Minnesota is kicking butt relative to Wisconsin on everything from employment and job creation to school test scores . But here's the answer on residential taxes: Wisconsin can't give homeowners a Minnesota-sized break. You may not need Michigan or North Dakota income tax withheld for personal service income earned in these states. Beginning January 1, 2010, you must withhold Wisconsin income taxes on wages of Minnesota residents working in Wisconsin. Executive Summary. Found inside – Page 161424 State of Minnesota vs. State of Wisconsin . Boundary line . ... 1739 State vs. Cudahy Packing Co. Freight car line taxes . Judgment affirmed . Yes. Fax: (608) 267-1030Email:
73.16(2)(a), Wis. Stats. Minnesota has a progressive income tax system with rates that range from 5.35% to 9.85%. In the Badger State, tax payments from manufacturing property owners make up only 3% of property tax collections, down from 18% in 1970. Meanwhile, its sales and property taxes are not particularly low. Median annual household income [data from 2015] in Minnesota = $68,730; Wisconsin = $55,425. If you have questions about Wisconsin income tax, contact the Wisconsin Department of Revenue: If you have questions about Minnesota income tax, contact the Minnesota Department of Revenue: Beginning January 1, 2010, your Wisconsin employer will withhold Wisconsin income taxes from your personal service income such as salaries, wages, commissions and fees earned. Wisconsin Income Taxes. Another way for retirees to lower their tax burden is to relocate to a state that doesn't tax Social Security benefits.While the federal government taxes up to 85% of benefits, depending on your other income, the District of Columbia and 37 states - including the nine with no state income tax - exempt Social Security from taxable income. New Jersey and Minnesota New Jersey Top tax rate: 8.97 percent. On the bright side, there are no local income taxes in the Land of 10,000 Lakes. The cancellation affects people in Wisconsin and Minnesota. A local subreddit for the State of Wisconsin. The Tax Foundation's State Business Tax Climate Index enables business leaders, government policymakers, and taxpayers to gauge how their states' tax systems compare. December 09, 2013 By Jeff Van Wychen , Fellow and Director of Tax Policy & Analysis In college football, the Wisconsin Badgers have dominated the Golden Gophers throughout recent history, capturing Paul Bunyan's axe ten consecutive years. Back-to-School Tax Relief. Income tax rates are also set by law. Your annual income and filing status determine your tax rate. Phone: (608) 266-2772
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Minnesota (MN) Sales Tax Rates by City. Each score is less than 10 points, and Jalen Berger and perhaps wide receivers Danny Davis and Kendric Pryor will not escape. File a 2020 Minnesota income tax return in 2021 as a nonresident. State residents paid 14.9% of personal income in taxes and other revenue, slightly higher than the national average of 14.8%. 03-27-2009, 10:54 AM wolves : 3 posts, read . For an in-depth comparison, try using our federal and state income tax calculator. 03-24-2009, 03:31 PM. However, there is also a homestead tax exemption which allows for the . Click here to customize .) Like the Federal Income Tax, Wisconsin's income tax allows couples filing jointly to pay a lower overall rate on their combined income with wider tax brackets for joint filers.. Wisconsin's maximum marginal income tax rate is the 1st highest in the United States, ranking directly below . Will my employer withhold Wisconsin tax from my wages? Wisconsin does not tax Social Security retirement benefits, even those taxed at the federal level. She pays more than double in property taxes on her Lake Menomin place near the University of Wisconsin-Stout than she would if she had stayed in the northwest suburbs of the Twin Cities. The state sales tax rate in Minnesota is 6.875%. Minnesota has reciprocity agreements with Wisconsin, North Dakota and Michigan. Minnesota vs.Wisconsin, Minnesota, 32 replies Health care in Minnesota/Wisconsin?, Minnesota, 4 replies Minnesota vs. Wisconsin, Minnesota, 5 replies 02-Mar-15. MS 5-77Wisconsin Department of Revenue Customer Service Bureau PO Box 8949 Madison, WI 53708-8949
Arizona: Individual income tax surcharge of 3.5 percent for taxpayers with marginal income above $250,000 (single filers) or $500,000 (joint filers). The top state income tax bracket stayed the same, though. You will report all income received, including wages earned in Minnesota, on your Wisconsin return. "People don't say, 'I'm going to look for a residence and go where the taxes are cheapest,' " Reger said. Found inside – Page xxxiState vs. Great Northern Railway Company Minnesota State Pharmaceutical Assn . vs. State Board of Pharmacy . Foley Bros. & Kelly vs. Minnesota Tax ... Minnesota Withholding Tax is state income tax you as an employer take out of your employees' wages. In 2016, Wisconsin residents paid an average of $6,905 in taxes, fees, and other charges to state and local governments, $263 lower than the national average. All personal service income earned in Minnesota will be reported to Minnesota. Found inside – Page 161224 State v . Wisconsin , Minnesota & Pacific Railway Co. Penalty for nonpayment of taxes . $ 1,257.71 . 1227 State v . Chicago Great Western Railway Co. New Jersey is also the state with the highest property taxes in the U.S. Minnesota Middle class tax rate: 7.1 percent. Minnesota vs. Wisconsin. Income from a government pension is not taxed under certain circumstances. For an in-depth comparison, try using our federal and state income tax calculator. Wisconsin collects a state income tax at a maximum marginal tax rate of %, spread across tax brackets. The total state and average local sales tax rate is 7.46%. Likewise, if you are a resident of Wisconsin, North Dakota or Michigan work- Wisconsin vs. Minnesota. Point of Taxation: Special fuel tax. Many taxpayers are undoubtedly wondering how this year's Tax Day will affect their finances, as a lot of people are struggling financially as a result of the pandemic. Her new home is bigger, but the assessed values aren't that different. Here are the brackets and corresponding rates for 2019. She can afford the taxes and got a lot more house for the money in Wisconsin. Texas residents also don't pay income tax, but spend 1.8% of their income on real estate taxes, one of the highest rates in the country. Taxes on Retirement Benefits. Wisconsin's unemployment rate started out lower than Minnesota's in December 2007 but was equal to Minnesota's rate by December 2008 and has been above Minnesota's since March 2009. LouAnne Reger, who owns J&L Steel and Electrical Services, knows the difference between Minnesota and Wisconsin taxes because she moved her home and business to Wisconsin. WI Revenue Announcements. Reputation: 436. 2021 Cost of Living Calculator: Madison, Wisconsin vs Minneapolis, Minnesota. 6.27% on taxable income between . They apply if your Minnesota taxable income is $90,000 or more. You will report all of your income received, including wages earned in Wisconsin, on your Minnesota tax return. Arizona, Colorado, Illinois, Indiana, Michigan, New Mexico, North Dakota, Ohio, Pennsylvania and Utah levy tax on income under 5%. If somebody were considering living around the border, along 94, what would be the main differences between living on one side of the border vs the other. You can't withhold more than your earnings. See the Schedule OS or Wisconsin Publication 125, Credit for Tax Paid to Another State, for Withholding tax applies to almost all payments made to employees for services they provide for your business. See
Under state law, Minnesota's income tax brackets are recalculated each year based on the rate of inflation. Wisconsin Withholding Exemption Certificate. special withholding arrangement announced by the Secretary of Revenue. DORIncome@wisconsin.gov. Currently, Wisconsin offers Medicaid coverage to a broader swath of the population than does Minnesota. This tool compares the tax brackets for single individuals in each state. At its birth, Wisconsin decided that business and residential properties would be taxed at equal rates. If you have questions about Wisconsin withholding tax, contact the Wisconsin Department of Revenue: This document provides statements or interpretations of the following laws and regulations enacted as of February 4, 2021: Sections 71.03, 71.04, 71.07, 71.09, 71.10 and 71.64, Wis. Copyright © State of Wisconsin All Rights Reserved, Wisconsin employers that employ Minnesota residents, Minnesota employers that employ Wisconsin residents, Submit comments on this guidance document. This tool compares the tax brackets for single individuals in each state. Minnesota, meanwhile, is free to hit commercial and industrial owners with higher rates, shifting property tax collections from homeowners, compared with Wisconsin. For more information about the income tax in these states, visit the Minnesota and California income tax pages. There is a statewide income tax in Wisconsin. Will I need to make Wisconsin estimated tax payments? Found inside – Page 780212 1 INCOME TAX federal compared with state practice Tailroads theory ... in 1910 in 1912 federal versus state conclusions in Wisconsin ... growing ... For an in-depth comparison, try using our federal and state income tax calculator. Only a few states have a higher top tax rate than Minnesota.
For more information about the income tax in these states, visit the Michigan and Wisconsin income tax pages. 40 votes, 39 comments. For income taxes in all fifty states, see the income tax by state. But those high-profile changes only affected the income tax, not sales tax or, importantly, property tax — the key factor in comparing the overall tax burden between Minnesota and Wisconsin. As a single earner or head of household in Wisconsin, you'll be taxed at a rate of 3.54% if you make up to $11,790 in taxable income per year. Subdivision 1. The 3940 fat cats with more than $1 million in income in 2011 (.1% of the total taxpayers) paid 11.5% of the state incomes taxes that year. Wisconsin Income Tax Rate 2020 - 2021. Reger's not really complaining. File a 2020 Minnesota income tax return in 2021. Badgers lost three games in a row. A Wisconsin prejudgment garnishment statute that authorizes freezing a defendantâ s wages between garnishment and culmination of suit without affording the defendant a hearing . Additionally, Minnesota's corporate income tax rate is third highest in the nation at 9.8 percent. Note: Minnesota employers who no longer have a withholding obligation for Wisconsin, should inactivate their Wisconsin withholding tax account. Select the Minnesota city from the list of popular cities below to see its current sales tax rate. 5. Wisconsin is alone in the Midwest and among eight states that treat apartments, factories, office buildings, vacation homes and primary residences the same. It would be more credible if he did. On the national stage, neither Wisconsin nor Minnesota are stellar performers by a long shot. The tax differences probably even out, she figures - though she's not above filling up in Minnesota to save a dime a gallon. The department welcomes your input on our guidance. Home > Facts > United States > State Comparisons The indexed brackets are adjusted by the inflation factor and the results are rounded to the nearest $10. Publication 201, Wisconsin Sales and Use Tax Information. Home > Facts > United States > State Comparisons As the Governor makes the case for the Republican nominee, it is worth assessing Walker's record in his more than 5 years in Wisconsin.During his time as governor, Wisconsin has been a laboratory for many Republican economic policies. The table below shows Wisconsin's tax rates as of tax year 2020 (filed in 2021) and their respective brackets. However, … While the new Minnesota gift tax legislation allows for a $100,000 credit (i.e., 10% of the $1 million exemption amount over a person's lifetime), it also provides for a . Singles and heads of household making $263,480 or more in taxable income are subject to the highest tax rate of 7.65%. Form WT-4,
For details, go to K-12 Education Subtraction and Credit. We all know that. The bottom two Wisconsin tax rates have decreased from last year. The differences between Minnesota and Wisconsin are dramatic. She pays more than double in property taxes on her Lake Menomin home than if she had stayed near the Twin Cities. Form W-222 was previously used by Minnesota residents working in Wisconsin to claim exemption from withholding of Wisconsin income taxes. Guidance issued prior to February 4, 2021, that is contrary to the information in this document is superseded by this document, pursuant to sec. Contact your Minnesota employer if you have questions about Form W-4 or Form W-4MN. Several other states have a relatively low tax rate across all income levels. Get a graphical comparison report on the cost of living, taxes, expenses, quality of life, climate, education, and other factors between any two states. Minnesota's individual income tax system has four tax brackets, with rates of 5.35%, 6.80%, 7.85% and 9.85%. It isn't even close. In the areas of state-local tax burden and taxes per capita, during this same 1995-to-2010 timeframe, they ranked as the 5th and 7th overall worst, respectively. Walker cut taxes by more than $4.7 billion, stripped . In Minnesota, Jet Fuel is subject to a state excise tax of $0.15 . The agreement allowed residents of one state to file a single income tax return with their home state if they worked across the border. Those with incomes above $500,000 (.4% of the total) paid 17.3%. For married taxpayers filing joint returns, taxes are assessed at: 4% on the first $14,790 of taxable income. This year, Uncle Sam will take his cut of the past year's earnings on May 17, slightly later than usual due to the COVID-19 pandemic. Consequently, if you are a Minnesota resi-dent working in Wisconsin, North Dakota or Michigan, you pay income tax to Minnesota—your state of residence. Use this tool to compare the state income taxes in Minnesota and Wisconsin, or any other pair of states. Getty Images. If you are a Minnesota resident, you can file an income tax return with the reciprocity state for a refund of the tax withheld. Income tax rates in Minnesota are among the highest in the country, ranging from 5.35% to 9.85%. OUTAGAMIE COUNTY ADOPTS 0.5% COUNTY TAX EFFECTIVE 1/1/2020; MENOMINEE COUNTY ADOPTS .05% COUNTY TAX EFFECTIVE 4/1/2020; BASEBALL STADIUM .01% TAX ENDS 4/1/2020< If you have questions or comments please e-mail us tax . Northern Wisconsin leaders lobbied the Wisconsin Department of Revenue on Tuesday to restore a tax reciprocity agreement with Minnesota that ended almost a decade ago. Major tax exemptions and a shrinking factory base also help explain that. As this year's tax-filing deadline, April 15, comes closer, it's .
the entry in this legal encyclopedia about the legislation held unconstitutional, a complete list of court decisions declaring legislation unconstitutional here, Delano Farms Co. V. California Table Grape Commission. All wages earned in Wisconsin are taxable by Wisconsin. Wisconsin state income tax rate table for the 2020 - 2021 filing season has four income tax brackets with WI tax rates of 3.54%, 4.65%, 6.27% and 7.65% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses.. For income taxes in all fifty states, see the income tax by state. Home > Facts > United States > State Comparisons Once you tally them all up they come up pretty equal. Minnesota has recent rate changes (Thu Apr 01 2021). File a 2020 Wisconsin nonresident income tax return (Form 1NPR) in 2021 if your Wisconsin gross income was $2,000 or more. All wages earned in Wisconsin are taxable by Wisconsin. 75.6k members in the wisconsin community. Colocare servere si echipamente de la 75 eur / luna. The state's new Department of Revenue Secretary-designee Peter Barca is hopeful a deal can be reached to save Wisconsin residents money. No, Wisconsin income taxes will not be withheld from that income. That's enshrined in the state constitution, making it close to untouchable. Call for FREE Moving Quotes 1-866-343-1243 LOCAL MOVERS It is about a wash, MN income tax is higher, WI property taxes are higher, insurance is lower in WI but not by much. File a 2020 Wisconsin nonresident income tax return (Form 1NPR) in 2021 if your Wisconsin gross income was $2,000 or more. Well then, you should be right at home in progressive Wisconsin. Mail your property tax refund return to : Minnesota Department of Revenue Mail Station 0020 600 N. Robert Street St. Paul, MN 55145-0020 Mail your tax questions to: Minnesota Department of Revenue Mail Station 5510 600 N. 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