The 2013-15 state budget eliminates the economic development surcharge for farms, partnerships, and individuals beginning in 2013.
The economic development surcharge is applied to businesses (including some self-employed individuals) with more than $4 million in gross receipts and ranges from $25 to $9,800 per assessment. The surcharge is used to finance the Wisconsin Economic Development Corporation. The state budget replaces the surcharge on farms and pass-through entities with $8 million of state General Fund support.
C corporations continue to be subject to the surcharge.
Many LLCs had experienced difficulty with the surcharge by being assessed several times at the corporate and individual level in a pyramiding fashion.
