Revitalizing the R&D Credit

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 … Continued

Facts About the Manufacturing & Agriculture Credit

“Any discussion about repealing or reducing the value of the manufacturing credit is a discussion about raising taxes on manufacturing jobs,” Manley said. “If the Democrats want to have that debate in the second most intensive manufacturing state in the … Continued

Taxpayer Fairness Reform Act Introduced, Receives Hearing

Senator Marklein and Representative Macco have introduced Assembly Bill 623, the Taxpayer Fairness Reform Act, a package of reforms intended to make Wisconsin a better place in which to do business. The bill contains seven elements which will help businesses … Continued

Tax Relief Package Approved

Now that the state budget logjam is finally free, the Joint Finance Committee’s tax package has been released and approved as part of the final budget. The plan provides significant relief from the state’s alternative minimum tax (AMT) and the … Continued

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 2013-15 state budget. Following Governor Walker’s initial proposal in February to lower individual income tax … Continued

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 2009 would not have additional tax liability in a subsequent audit if no such liability … Continued

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 begins on the effective date of the state budget, regardless of the timeframe to which … Continued

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) can allocate. The angel investment tax credit equals 25% of a claimant’s bona fide angel … Continued

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 of these credits is claimed by fewer than 1% of taxpayers.  Six of these tax … Continued

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 and biotechnology for purchases of machinery and equipment used, or items that are consumed or … Continued