Revitalizing the R&D Credit
Efforts continue to make the Wisconsin research credit refundable through the state budget process. Last week, Briggs & Stratton hosted their local Joint Finance Committee lawmaker on the issue. Other companies continue to plan (or attempted to plan!) meetings with key lawmakers to help make this push a reality. The state budget work by the Joint Finance Committee could be wrapped up by the second or third week of June; final floor votes would come about one week later.
LFB Memo on Claiming Credit over 7 Years
Here is a link (to the second attachment) of a report outlining the fiscal impact of allowing accumulated credits to be claimed over 7 years. The cost averages $100 million per year, which is a substantial hurdle for this cause to make with policymakers.
Refundable R&D One-Pager
We at WMC have pulled together a one-page briefing paper on the issue. Feel free to draw on this information in your efforts to promote making this change to the credit.
Business Community Looks for Lower Costs in Face of Historic Inflation
September 12, 2023
