Wisconsin legislator proposes changes to tax credit

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The Dairy Manufacturer Investment Tax Credit isn’t even on Wisconsin’s books yet, but a state legislator is working to make it even farther reaching than first proposed.

The credit originally appeared in Gov. Jim Doyle’s biennial budget proposal as a non-refundable credit that dairy manufacturers can earn over seven years by making facility improvements. Those who modernize or expand plants would be eligible for a 10 percent tax credit up to $200,000.

However, Rep. Brett Davis, (R-Oregon), along with State Assembly leadership, proposes that the tax credit be offered as either refundable or non-refundable. He says this change will help newer dairy manufacturers.

Davis is also working to change the law to allow co-ops to be eligible for something like the tax credit.

The tax credit is part of the budget bill currently under consideration by the legislative conference committee. It has not yet been signed into law.

Monroe Times

 



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