Relocated Business Tax Credit or Deduction (Wisconsin)
Last modified on February 12, 2015.
|Applies to States or Provinces||Wisconsin|
|Name||Relocated Business Tax Credit or Deduction (Wisconsin)|
|Policy Category||Financial Incentive|
|Policy Type||Corporate Tax Incentive|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wave Energy, Wind energy|
|Implementing Sector|| State/Province
|Program Administrator||Wisconsin Department of Revenue|
|Primary Website|| http://www.revenue.wi.gov/taxpro/fact/relocated.pdf
| Last Substantive Modification
Relocated Business Tax Credit or Deduction is available for an income tax holiday to businesses that relocate to Wisconsin if they have not done business in the state during the two previous taxable years. The company must also move at least 51 percent of the business workforce payroll or at least $200,000 of the workforce wages to Wisconsin during the year the credit is claimed. The credit is equal to the amount of income or franchise tax liability, after applying all other allowable credits, deductions, and exclusions, for two consecutive taxable years beginning with the year in which the taxpayer’s business relocates to Wisconsin from another state and begins doing business in Wisconsin.
A relocated business tax credit or deduction is available for taxable years beginning January 1, 2011 and before January 1, 2014.