Create relocation tax credit for businesses moving to Wisconsin
Will create a relocation tax credit for businesses moving to Wisconsin. "For businesses that move to Wisconsin that are not subject to the corporate income tax, my proposal provides a relocation tax credit up to 50% of moving costs. This tax credit is deferrable for up to 10 years, providing new businesses plenty of time to establish roots and grow their workforce."
Left out of 2011 tax reform package
Updated: Tuesday, January 10th, 2012 | By Dave Umhoefer
Gov. Scott Walker, as a candidate, spoke about several related changes to lure out-of-state businesses to Wisconsin.
He kept one promise, signing bipartisan legislation in his first month that would provide a total personal income or corporate tax break for two years for businesses that relocate here, the Journal Sentinel reported.
The incentive would be retroactive to Jan. 1, 2011 and would lower state revenue by an estimated $1 million over two years. Firms receiving it cannot have done business in the state for at least two years before moving here.
A related proposal, highlighted on his campaign website, proposed to give a break to businesses that move here but are not subject to the corporate income tax.
"My proposal provides a relocation tax credit up to 50 percent of moving costs. This tax credit is deferrable for up to 10 years, providing new businesses plenty of time to establish roots and grow their workforce."
This piece did not get included in Walker's package of tax cuts in 2011 and has not been placed on the table in any form, according to the governor's office, business lobbyists, tax experts and state budget documents.
We rate this promise as Stalled.
Interview with James Buchen, chief lobbyist, Wisconsin Manufacturers & Commerce, Jan. 4, 2012
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