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Taxes & Spending
WISCONSIN'S CHAMBER
Taxes & Spending
State Budget Significantly Improves Wisconsin’s Tax Climate
Governor Scott Walker and the state Legislature made dramatic improvements in lowering our state tax burden and simplifying our tax code as part of the
Prior Audit Determinations
The 2013-15 state budget creates a new protection for taxpayers who were subject to an audit determination by the state Department of Revenue (DOR) since
Interest on Amounts Owed to Taxpayers
The 2013-15 state budget reduces the interest rate on amounts owed by the Department of Revenue (DOR) to taxpayers from 9% to 3%. This change
Eliminate Angel Investment Tax Credit Cap
The 2013-15 state budget eliminates the $47.5 million cap on the maximum amount of angel investment tax credits that the Wisconsin Economic Development Corporation (WEDC)
Elimination of Eighteen Business Tax Credits
The 2013-15 state budget eliminates seventeen business tax credits in 2014 and one in 2015 with the intent of simplifying the state tax code. Each
Clarifications to the Manufacturing R&D Sales Tax Exemption
The 2009-11 state budget created a sales and use tax exemption for manufacturing and biotechnology research. This exemption applies to businesses primarily engaged in manufacturing
Phase-In of the Health Insurance Premium Deduction
The 2007-09 state budget created an individual income tax deduction for health insurance premiums paid by employees whose employer pays some portion of the employee’s
WMC’s 2013 Tax Policy Toolkit
The 2013-15 state budget includes significant tax policy reforms that will improve the business climate in Wisconsin, including tax relief amounting to nearly $986 million
Extending the R&D Tax Credit to Pass-Through Entities
Under previous Wisconsin law, only C corporations were eligible to claim the federal research & development expense credit at the state level. The 2013-15 state
Federalizing Net Operating Loss Rules
The 2013-15 state budget adopts federal rules for net operating losses for individual income tax. Beginning in 2014, net operating losses can be carried forward