Tax Candi

For those of you who got the Home Improvement reference in the title, five points. And when you think of cheese, you think of Wisconsin.

In March, Wisconsin overhauled it's Economic Development Incentives. (FYI: Apparently the old programs' webpages are floating around in the ether that is the internet, so go directly to the Wisconsin Department of Commerce website for all the accurate information.) One of the key programs in the revised offerings is the...

Job Creation Tax Credit

Wisconsin's newly enacted program doesn't appear to have a lot of requirements. Simply, a company must create new jobs in connection with new capital investment. The intent is for business to create new projects within the state, thereby creating new jobs.

Businesses creating new projects (and new jobs) in Wisconsin can get a tax credit up based on the hourly wages of the new full-time positions created. There are three tiers of credit:

(1) Up to $3,000 for jobs paying between $10.88 and $14.49 per hour,

(2) Up to $5,000 for jobs paying between $14.50 and $18.12 per hour, or

(3) Up to $7,000 for jobs paying over $18.13 per hour.

The credits have a 15 year carryforward.

Interest parties need to negotiate their incentives package, including this tax credit, with the Wisconsin Department of Commerce. Maybe they'll even throw in some cheese curds.