LRB-0366/3
FFK:jld:ph
2013 - 2014 LEGISLATURE
DOA:......Ley, BB0151 - Tax benefits under the Jobs Tax Credit Program
For 2013-2015 Budget -- Not Ready For Introduction
An Act ...; relating to: the budget.
Analysis by the Legislative Reference Bureau
Commerce and Economic Development
Economic development
Under current law, WEDC may certify a person to claim the jobs tax credit if the person operates or intends to operate a business in Wisconsin, will increase its net employment in Wisconsin, and will pay certain annual wages to full-time employees. A person who is certified for the jobs tax credit may receive per-employee tax benefits in an amount equal to 10 percent of the wages the person pays to full-time employees who earn certain annual wages.
Under this bill, WEDC may award tax benefits to a person certified for the jobs tax credit in an amount that is up to 10 percent of the wages the person pays to full-time employees who earn certain annual wages.
For further information see the state fiscal estimate, which will be printed as an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
Section
1. 238.16 (4) (b) 1. (intro.) of the statutes is amended to read:
238.16 (4) (b) 1. (intro.) The corporation may award to a person certified under sub. (2) tax benefits for each eligible employee in an amount equal to up to 10 percent of the wages paid by the person to that employee or $10,000, whichever is less, if that employee earned wages in the year for which the tax benefit is claimed equal to one of the following:
Section 9350.
Initial applicability; Wisconsin Economic Development Corporation.
(1) Jobs tax credit program; amount of tax benefits. The treatment of section 238.16 (4) (b) 1. (intro.) of the statutes first applies to taxable years beginning on January 1, 2013.
(End)
